Image provided by: University of Oregon Libraries; Eugene, OR
About Oregon daily emerald. (Eugene, Or.) 1920-2012 | View Entire Issue (May 20, 1982)
:elf-°eprv,ceED wash YOUR CAR! ACUUMS FIRST STREET CAR WASH corner of 1 st & Jefferson Thursday, Friday and Saturday nights. JAZZLE Miss KSND Tod Model Fashion Show Thursday nights 8:00 p.m. 93< BEER & WINE Local construction slowdown may result in rental shortages By Marian Green OflheErntBU Eugene isn't likely to see the yellow hard hats of construction workers building new rental units for at least two years, a local developer told the city's housing committee Tuesd jy. As a result. Eugene may face a housing shortage if and when the economy turns around, he said. Local developer Rob Bennett, also a committee member, said his current building project, which is funded partially by state and federal subsidies, will leave him $10-12,000 in the red during its first year. For Bennett to construct that same project with "convention al” financing on his own, he said the negative balance would run closer to $93,000 during the initial year. The 36-unit, multi-family project, which Bennett prefered not to name, includes two one bedroom, 21 two-bedroom and 12 three-bedroom units — with rents in the "affordable" range of $212-$312 because of the subsidies, he said High interest and vacancy rates are the primary causes of the prohibitive costs, he said Subsidized, affordable rent projects are beneficial because "I don't think they get built oth erwise," Bennett said “With those kind of numbers there isn't going to be any conventional construction,” Bennett said "And this is a no-frills project It's not a luxury project in any sense of the word. "There's just this huge gap between the existing rent level and that (level) which would encourage any kind of new construction." Bennett stressed that if and when the economy turns around “we'll have a real crunch "If the economy turns around and the community grows, new people will move into the area and take up the slack in the existing supply," he said. "I don’t think that's going to hap pen for a while.” Bennett conservatively es timated two years for interest rates to fall and population growth to occur at levels that would allow viable new con struction The University area could feel a rental housing pinch if population growth in the com munity "spills over" into the area, he said Rents in the area, which Bennett characterized as "relatively low," could rise sub stantially Business school announces first annual ‘Rainbow Run’ with Salazar The University’s School of Business Admin istration will sponsor a 10 kilometer "Rainbow Run.” featuring world-class distance runner. Alberto Salazar at 10 a.m. Saturday. May 22 in Alton Baker Park. Salazar, a University alumnus, broke the world record in the marathon at the New York City Marathon and most recently won the Boston Marathon The purpose of the race is to increase com munity awareness of the business school, said Andy Woid, assistant to the dean of the busi ness school The fee for individuals entering the race is $7 with the application turned in by the day of the race Applications may be picked up at the business school office in Gilbert Hail, at most local sporting goods stores or at the race site. All competitors will receive a tree T-shirt. Five round trip tickets to San Francisco, cour tesy of Republic Airlines, will be given away The top female and male finishers in the race will each receive a ticket, along with three winners to be determined by a drawing The business school is also inviting area firms to participate. Firms that donate $100 become qualified to have all employees run in the race free. Those making the donations will then be invited to a social gathering on June 5. where they will have a chance to meet busi ness school faculty members, graduate and undergraduate students Worried about a place to live??? Need good food, a reasonable price, good friends??? Check out the Residence Halls for the best deal in town. We’ll have a table with information in the EMU lobby today. Stop by to see us and find out what we have to offer or visit the Housing Office at Walton Hall. Spend a Classic Evening with KWAX 91.1 FM Casino Night and Auction Friday, May 21 7:30 p.m. McKenzie Room Valley River Inn Tickets $5.00 available at the door or in advance at KWAX and the Mimical Offering. 806 Charnelton The Oregon DtUy Emerald Is published Monday through Friday except during finals weak and vacations by the Oregon Daily Emerald Publishing Co Editor Sally Hoogkinson Managing Editor Gabriel Boehmer News 666-5511 Advertising / Business 666-3712 Classifieds 666-4343 Production 666-4381 News Editor Harry Esteve Assistant News Editor John Healy Photo Editor Bob Baker Graphics Editor Michael Schatbuch Editorial Page Editor Cort FernaiO Sports Editor Sieve Spat? Associate Sports Editor Associate Editors Jett Dickerson __ General Stall Entertainment Editor Matt Meyer Night Editor Debbie Howlett ASUO Dane Oaussen Community Marian Green Departments and Schools Debbie Howlett Features Sandy Johnstone Higher Education Ann Portal Politics r Environment Ron Hunt Advertising Director Darlene Gore Classified Advertising Sally Ol/ar Production Manage' Ann Peterson Conboller Jean Ownbey
