September 25th was move in day for Capstone Collegiate Property’s 13th and Olive Building.
Driving up Olive Street to W 11th, one could watch students wrestling plastic wrapped mattresses through safety fenced entrances, as clean up crews finalized the exterior of Phase 1.
The scope of the $80 million project is impressive as it towers over humbled retail neighbors on the north side of the behemoth. Subsidized by the city, Capstone Properties gained approval via City Council vote despite loud protest from the Downtown Merchants and Neighborhood Association and small University rental property owners.
According to the facilities Facebook page and website, Phase 1 is rented to capacity, with a waiting list offered for Phase 2, slated for completion Spring 2014.
Yet to be seen is the feared traffic snarl generated in the downtown district by an estimated 1100 tenants on the project’s completion. Designed with an urban flair reminiscent of big city row houses, the building, while not lending itself to the antiquated commercial and residential interface that surrounds it, is clean of line and presented in subtle earth tones and brick red penalized construction accents. The parking garage is another story, its raw formed concrete tower cries out for finishing as construction crews continue to work on the gated, street blocked project site.
For the active student the facility offers 24/7 wreck , gym and conference rooms. Future retail and food services will occupy the ground floor, with elevated parking assigned to each unit.
New is new! According to the Alabama based Capstone Collegiate Properties website, a one bedroom apartment with parking space and access to the facility will rent for $670 per month. While 2 and 3 bedroom units are indicated, it appears that they may be rented to capacity. While priced a bit higher than available room or apartment rentals throughout Eugene, the hook here is the building's close proximity to downtown, public transportation and the University of Oregon.
With the completion of L.C.C.’s Downtown Campus, residents and now, Phase 1 of the Capstone Project, the face and beat of downtown Eugene is quickly morphing into a younger, possibly more dynamic environment. As to the loitering street people, we’ll see where that’s going!