Glenwood Development LLC prepares to present proposal

Both Glenwood Development LLC. and LOCALIS will present proposals to the Springfield Economic Development Agency on Monday night to develop the Glenwood Riverfront area.

Posted: Apr 11, 2021 1:20 PM
Updated: Apr 13, 2021 6:45 PM

SPRINGFIELD, Ore. --- Glenwood Development LLC and Localis will present proposals for the Glenwood Riverfront Development at 7 p.m. on April 12th to the Springfield Economic Development Agency.

RELATED: LANE UNITED FC HOPES FOR NEW STADIUM AS PART OF GLENWOOD DEVELOPMENT PROPOSAL

KEZI spoke with Greg Vik, one of the developers at Glenwood Development LLC and the owner of Vik Construction Company.

"I'm probably like a lot of people in the community wondering why the community couldn't develop the stretch of land," Vik said. "When you drive through Franklin Boulevard you have a tendency to want to just drive through it. But when I went back closer to the river, I realized it's such a beautiful, natural environment. I believed it deserves the very best that anyone can do to preserve the natural environment but also make it a vibrant community."

Vik said he has done extensive research throughout the world about why certain communities are more vibrant than another.

"We really felt that it was important to start the proposal of Glenwood well. So it's that combination of density and diversity," Vik said.

Vik was also a carpenter who previously raised funds for opportunity villages for the homeless community. He said that the current team can also help to tackle the growing homelessness crisis in the community.

"The hope is to expand further and be attentive to the entire community," Vik said. "We got a great team and great expertise. From that, I think we can develop something that can help the homeless."

Part of the proposal from Glenwood Development LLC is building a 20-story 378 room hotel complex, an 85,000 square foot conference room and a 30,000 square foot plaza between the hotel complex and the Southbank of the Willamette River. They said the total cost would be anywhere from $311 million to $340 million.

"I know a lot of people will probably think a 378 room hotel would be an overkill or overshooting, but it's not," Vik said. "If we do a demand generator conference center that we market two years round, we're going to need a hotel of that size to accommodate the composition."

Vik also said that Glenwood Development LLC has secured opportunity zone funding for $300 million for the project. He said that if all goes as planned, they will be underway with land use immediately and break ground within one year.

LOCALIS said they would build a tech hub, high and medium density housing, soccer stadium, and hockey stadium in their proposal. 

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