The Riverfront Research Park project is a cooperative effort of the University of Oregon (UO) and private developers to build a university-related research park on a state-owned site adjacent to the university campus on the south bank of the Willamette River.

The Park provides a beautiful master-planned setting for approximately one million square feet of development, where knowledge-based businesses and organizations can start and grow in close proximity to and collaborative association with the well-respected research capabilities of the university.

The purpose of the Research Park is to attract and promote the growth of technology and the economy of Oregon by providing an environment conducive to research and innovation. The UO encourages the transfer of research and technology to the private sector, and supports the Park's goals of helping to diversify the region's economy and create quality employment opportunities for students, faculty, and members of the community.

• Status of the Park
• Park Goals
• Master Plan
• Feasibility Analyses
• Private Development
• Phase I
• Future Phases

Status of the Park
A few key points about the Research Park include:

• 26 percent of developable park land is built-out
• 111,000 square feet of development
• Average employee salary and benefits exceed $50,000/year
• Tenants are in the fields of neuroscience and neuroinformatics, biotechnology, behavioral science, optimization technology, health care, language tool and software development, reading program development, and policy and program development for people with disabilities
• Over 400 students have been employed in part-time positions
• To date, a total of 64 tenant companies and organizations have located in the Research Park
  

Park Goals
The Riverfront Research Park project has five primary goals, as summarized below:

• To assist in the ongoing diversification of the economic base of the Eugene-Springfield metropolitan area and of the state of Oregon as a whole, by encouraging the growth of research-based industry
• To provide opportunities for research interaction between the UO and industry
• To enhance the reputation and visibility of the UO, the Eugene-Springfield area, and the state of Oregon
• To provide additional financial opportunities for the UO, its faculty and students, and for the community
• To enhance the appearance and use of the Riverfront area.
  

Master Plan
[Go to Master Plan]
The Research Park's master plan envisions a phased buildout of approximately one million square feet on the 67-acre site. Buildings will be located in clusters to allow for logical phasing of the project and related infrastructure. Each cluster of buildings will focus toward a park amenity such as the Millrace waterway, the Willamette River, the Millrace outfall, the millpond, and/or the soccer field.

Approximately half of the site will be maintained and/or enhanced as open space areas, and the riparian strip along the riverbank will be preserved. New and improved pedestrian, bicycle and vehicular connections are being provided into and throughout the site, thereby increasing public access to the Willamette River and Millrace. Parking generally will be provided in lots and/or structures located adjacent to the railroad track, buffering buildings from the railroad. Finally, development and compliance with the Master Plan and Design Guidelines is ensured by the Riverfront Design Advisory Committee, a faculty and community group appointed by the UO President.

Park Financing
Financing of the Research Park project is provided by its various partners. The Oregon University System (OUS) has made the property available for development, while the UO is serving as the focus for technology transfer and is providing access to its faculty, equipment, and facilities, in addition to managing the project.

The City of Eugene has designed and constructed public infrastructure, financed primarily with tax increment revenues from the Riverfront tax increment district. And private developers are responsible for the design, construction, ownership, and management of the Park's buildings.

Feasibility Analyses
During the planning and predevelopment stages of the project, the university and city contracted with two consulting firms, the Battelle Institute and KPMG Peat Marwick & Company, to analyze the market and financial feasibility of the project. The final evaluation in the Battelle report states: "Based upon the resources and attributes of Eugene, the university, and the region, initial park plans, and other factors, this is a very fine project. It is going forth in line with realistic planning and development guidelines, and demonstrates a high probability of success."

Then in 1998, the university conducted a review to determine how the Park is progressing and compares to other research parks. A research park consulting firm, Connaissance International, was hired to evaluate the Park. The firm found that the Park compares favorably with most other U.S. research parks, a 10 to 15-year gestation period is typical, that there has been excellent planning with a focus on environmentally sensitive development, that the Park's objectives strongly support Eugene's Growth Management Plan and the UO's Strategic Plan, and the Riverfront Research Park is well-positioned to capitalize on the new economy of 21st century.

Private Development
Buildings in the Research Park are privately developed and owned, with the exception of the Riverfront Innovation Center (described below). Park land, owned by the OUS/UO, is leased in parcels on a long-term basis to developers who then construct and own the buildings; at the end of the long-term lease (50 to 98 years), ownership of the buildings reverts to the UO.

Building owners are responsible for construction of the buildings, parking, utility connections, landscaping, and amenities, and for maintenance of the leased land and buildings. Rents charged to tenant companies are set by the building owner and are competitive with rents for comparable space in the Eugene-Springfield area.

Phase I
The first phase of development is located directly across the street from the UO's science complex, within a two minute walk from campus. A bicycle and pedestrian path along the Millrace connects the site to campus and to bike paths along the Willamette River. Buildings and sites within this phase include the following, while more information is included under Leasing:

1600 Millrace Drive

This building, developed in 1992, is owned by Research Park Associates, Inc. of Salt Lake City, Utah, and is managed by Commercial Investment Properties of Eugene. Located at the entrance to the Park and oriented toward the historic Millrace waterway, the flexible multi-tenant building is three stories and 60,000 square feet.

1700 Millrace Drive
Currently this site, located on the north side of the historic Millrace waterway, is vacant and available for development of a 50-60,000 square feet of single or multi-tenant space.

1800 Millrace Drive
Constructed in 1998, this 47,000 square foot building is owned by Robert Booth of Portland, Oregon, and is managed by Campbell Commercial Real Estate of Eugene.

1900 Millrace Drive
Known as the Riverfront Innovation Center, this building is owned by the UO and provides over 4,000 square feet of low-cost incubator-type office, research and laboratory space for emerging high-tech companies with linkages to research and activities at the university.

Future Phases
Future phases of development include four sites in the Millrace Sector and three sites in both the Gateway and Riverview Sectors located along the Willamette River. See Master Plan for details.