Chapter at Eugene will include 119 units, lifestyle-enhancing amenities, community-oriented commercial space and parking
CRG, the national real estate development and investment firm, today announced it and partner Kenter Capital have secured the land and construction financing for Chapter at Eugene, a 12-story, 302-bed student housing development adjacent to the University of Oregon campus in Eugene, Ore. Construction is slated to begin later this month, with delivery anticipated in 2024 to coincide with the start of the 2024-25 academic year.
“Chapter at Eugene will bring highly sought-after near-campus housing, complete with market-leading amenities and neighborhood-serving retail, to one of the top public universities in the country,” said J.J. Smith, CRG’s managing partner and residential group leader. “This premier residential offering adds to CRG’s growing pipeline of student housing communities, which is focused on areas that have seen tremendous growth in enrollment. Expanding housing options in these supply-constrained markets is a win not only for students, but also our investment partners, who are critical to getting these projects off the ground.”
CRG currently has four student housing high rises comprising 2,300 beds under construction across the U.S. Academy at Reno and Standard at Columbia will open this fall, while Chapter at Madison and Chapter at Eugene will open in 2024.
Located at 754 E. 13th Ave., Chapter at Eugene will offer a mix of studio, two-, three-, four- and five-bedroom apartments, with pre-leasing expected to begin in early fall 2023. The furnished residences will feature upscale finishes including wood-style flooring; kitchens with quartz countertops and stainless steel appliances; living rooms with smart TVs; and in-unit laundry.
The building’s market-leading amenity package will boast a 5,000-square-foot rooftop recreation deck with a dog run, dining areas and fire pits with seating overlooking the Western Cascades and Willamette Valley. Below the rooftop, the 12th-floor resident lounge will showcase unobstructed views of campus and downtown Eugene and features a demonstration kitchen and various study rooms for individual and group work. The ground floor will feature a state-of-the-art fitness center with dedicated yoga room, as well as additional study areas, resident storage and bicycle parking.
“With this one-of-a-kind development, we can offer front-door access to the University of Oregon,” said Eran Shargal, founder and principal of Kenter Capital. “That we were able to secure one of the last developable parcels within a block of campus will allow us to tap into the energy of this location, providing student residents with enriching experiences both socially and academically.”
Chapter at Eugene is steps from UO’s most frequented on-campus destinations, including the Erb Memorial Union (EMU), Knight Library and Student Recreation Center. Residents will also enjoy easy access to popular shops, restaurants and nightlife throughout downtown.
The development is the 12th led by principals of CRG and Kenter Capital, which obtained the construction financing from Byline Bank.
“Byline Bank is pleased to provide the construction financing to CRG and Kenter Capital for this exciting new development that will support students at one of the top public universities in the U.S.,” said Matt Robertson, senior vice president and commercial real estate team lead at Byline Bank. “This opportunity fits our target market by establishing deep relationships with top-tier sponsors in growing markets across the country.”
Chapter at Eugene was designed by Seattle-based Jackson Main Architecture, while Springfield, Ore.-based John Hyland Construction, Inc. is serving as general contractor.
CRG’s student housing and multifamily team has a strong track record that includes the development of over 40,000 beds across more than 80 university markets. The firm continues to seek investment opportunities near major Tier 1, Power 5 conference schools.
About CRG:
CRG is a privately held national real estate development and investment firm that has developed more than 10,000 acres of land and delivered over 210 million square feet of commercial, industrial, institutional and multifamily assets exceeding $13 billion in value. CRG leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, Indianapolis, Seattle, Southern California, St. Louis, Philadelphia and Phoenix. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next-generation users led to the creation of its industrial brand, The Cubes, and its multifamily brand, Chapter. For more information, visit CRG’s website at www.realcrg.com/.
About Chapter:
Chapter is CRG’s national collection of upscale multifamily and student housing developments designed to provide spaces and experiences that help residents write their life story with greater intention. Each project is designed to offer residents the opportunity to not just live well, but also enjoy a home where experiences work together with the design to fuel one simple idea: help people write their next chapter.
About Kenter Capital:
Kenter Capital is a real estate development and investment company focused on the acquisition and development of high-quality properties in prime locations. Eran Shargal is the Managing Member and Principal of Kenter Capital and has experience in all aspects of development including acquisitions, entitlement, financing, development, operations, and dispositions. Since 2014, Eran Shargal has been involved in over 10 ground-up developments, totaling over 3.5M SF, primarily focused on mixed- use projects adjacent or close to major universities.
About Byline Bank:
Headquartered in Chicago, Byline Bank is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $7.3 billion in assets and operates more than 30 full-service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States. For more information, visit www.bylinebank.com. ©2023 Byline Bank. Member FDIC. Equal Housing Lender. Loans subject to approval.
