Eugene council approves 10-year multiunit property tax exemption for Station House at 131 E. Fifth Ave.

The Eugene City Council on April 16 approved a 10‑year multiunit property tax exemption for Station House, a proposed six‑story, 124‑unit mixed‑use development at 131 East Fifth Avenue in the city’s Market District.

Councilors voted 6‑2 to adopt a resolution to grant the exemption for residential units and residential‑dedicated parking; the motion carried with Councilors Lincoln and Keating opposed.

City staff told the council the project would place 124 residential units above a ground floor with more than 7,000 square feet of commercial space, and a two‑deck garage providing roughly 218 parking spaces. Staff and the city’s third‑party financial consultant, Pacific Northwest Economics, concluded the development would not be financially viable without the MUPTI and recommended approval. “It won’t be built without a MUPTI. It absolutely will not be built,” Councilor Clark said during the discussion.

Why it matters: The exemption would forgo an estimated $9.1 million in building‑value property tax over 10 years while aiming to spur new downtown housing and long‑term tax revenue. Staff estimated the completed project (valued at about $68 million) would generate roughly $1.1 million a year in property taxes beginning in year 11…