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After playing major roles in developing Portland’s South Waterfront District and Pearl District, Williams & Dame Development is in position to develop a key riverfront parcel in Eugene.

The Portland firm has entered into exclusive negotiations with the city of Eugene to develop a 16-acre property along the Willamette River. The parcel has served for decades as the operations center for Eugene Water and Electric Board, but the utility moved to sell the property and consolidate operations at another facility in west Eugene.

Eugene officials consider the property the city’s only shot at creating a riverfront district that extends from downtown.

鈥淭here鈥榮 a tremendous opportunity there,鈥� said Denny Braud, executive director of Eugene’s Planning and Development Department. 鈥淭his is really the only place downtown that touches the river.鈥�

Williams & Dame has closely tracked the property for years. In 2014, the University of Oregon Foundation was selected as master developer for the property, ahead of Williams & Dame and Trammell Crow Co.

鈥淭hey were all viable candidates for the project,鈥� Braud said.

The UO Foundation eventually backed out.

鈥淭hey ended up deciding that it wasn’t the perfect project for them,鈥� Braud said. 鈥淚t was probably a little risky. They hadn’t done this type of development before.鈥�

Braud reached out again to Williams & Dame and Trammell Crow, and it was Williams & Dame that kept coming back.

鈥淲illiams & Dame has a very specific and proven skill set working in public-private partnerships,鈥� said John Mangan, a spokesman for the company. 鈥淭hose are difficult, complex projects involving a host of issues, and it’s something Williams & Dame excels at.鈥�

Earlier this year, Eugene’s urban renewal agency purchased the property from EWEB for $5.75 million. The purchase was meant to provide a clear path to resell the property to a developer, Braud said. At one point, the urban renewal agency was acting as EWEB’s agent to sell the property, but the arrangement proved cumbersome.

鈥淭hat triangular relationship gets a little bit complicated,鈥� Braud said.

Williams & Dame can now negotiate directly with the urban renewal agency on a disposition and sale agreement.

A combination of urban renewal funds, possible tax exemptions for housing and a purchase price adjustment could be used to make the project worthwhile for Williams & Dame, Braud said.

鈥淎ll of those things are tools we could use to help make that project happen,鈥� he said. 鈥淚f we need to adjust the purchase price to make that happen, we’ve done it in the past. We’ve also sold property at market value.鈥�

EWEB retains ownership of a steam plant and substation next to the developable property. Approximately 3 acres along the river is set aside for a future public park.

A master plan for the property was adopted by EWEB commissioners in 2010 and the Eugene City Council in 2013. That document calls for a mixed-use approach with office, residential and commercial space. The plan envisions 250 to 400 residential units, plazas, boardwalks and open space. Building heights could range up to 120 feet, or lower depending on different density scenarios.

The master plan remains a 鈥済uiding force鈥� for Williams & Dame, Mangan said.

Development is expected to occur in phases. City officials hope to make some progress on the site by 2021, when Eugene will host the outdoor track and field world championships.

鈥淥ne of our goals by 2021 is that we have at least some redevelopment of that site under way, including completion of the park on the river and some development coming out of the ground,鈥� Braud said.

The site is complicated by Union Pacific railroad tracks and the six-lane Ferry Street Bridge Viaduct 鈥� one of Eugene’s most heavily trafficked arterial roads. Eugene’s Millrace, an artificially constructed channel, has its outfall on the property. Planners have debated whether to 鈥渄aylight鈥� the Millrace, or bring it to the surface.

Eugene used an environmental grant to study the site. More than 120 holes were drilled to look for contamination.

鈥淲e have not discovered to this point any major problems that should be of great concern,鈥� Braud said.

Currently, Williams & Dame is constructing 9North, a Pearl District office building. Last year, the firm finished Hyatt House, a hotel in downtown Portland.