March 22, 2006
For Immediate Release

Contact Kathryn Madden, 484-2123

Oregon Research Institute Steps Away from Downtown Building Site

Facing a funding gap it has been unable to close, the Oregon Research Institute (ORI) Board of Directors on March 21, 2006 voted to discontinue its efforts to build its new headquarters in downtown Eugene at the former Sears site.

“We’re extremely thankful for the generous goodwill we’ve received from the Eugene community, the City staff and the City Council,” said Executive Director, Cynthia R.Guinn. “The entire community has been very supportive of our plans to locate downtown.”

ORI had hoped to be a leader in the re-development of downtown Eugene with a state-of-the-art, environmentally-friendly building. However, citing factors such as high vacancy rates, the Eugene downtown being classified as a “depressed urban area,” and federal regulations that limit how ORI can spend research dollars, Guinn stated that the financing package for the new building was complex and difficult to put together.

“While we have worked to cut the cost of the proposed project, we still could not pull together our funding package in time to meet the City’s time frame,” noted Herb Severson, Ph.D., Board Chair and ORI scientist. “We felt we did not want to further delay the City’s plans for developing downtown.”

ORI currently leases over 57,000 square feet in two office buildings near the University of Oregon. The new 80,000 square foot building, planned for the now-vacant Sears site downtown, would have brought 250 employees downtown and allowed for expansion of ORI’s research programs. The building was designed to support ORI’s mission of conducting research that makes a difference in people’s lives, and included public meeting space for community education and outreach.

The non-profit research organization had a $17 million budget in 2005, and Guinn noted that ORI still needs a new headquarters. “While we are disappointed that we cannot commit to building on the Sears site at this time,” said Ms. Guinn, “we are still moving ahead with plans to find a new location for our institute.”