The University Foundation announced Friday it will submit a proposal that could lead to the purchase and redevelopment of the Eugene Water and Electric Board’s signature riverfront headquarters property.

Jay Namyet, the foundation’s chief investment officer, said the foundation will submit a nonbinding response to EWEB’s request for qualification on the riverfront property. The RFQ is the first step toward negotiating toward the potential purchase of the 27-acre property and office building.

Namyet said the foundation will wait until EWEB makes all the responses public before discussing details of its submittal.

“This is a unique opportunity to invest locally while meeting the foundation’s endowment-return requirements,” Namyet said in a statement released Friday. “EWEB will invite top applicants to make a public presentation at its July board meeting. Out of respect for EWEB’s internal review, we will look forward to sharing details of our RFQ at that time.”

Last fall, EWEB issued a request for qualifications and request for information to developers concerning the possible sale of the iconic riverfront property. The requests will allow the utility to evaluate the applicants’ experience, financial capacity and approach to redeveloping the site.

The EWEB property adjoins the UO’s signature Riverfront Research Park, a 67-acre campus that is home to several buildings that house high-tech companies and university spinoffs. The newest building, which opened last year, is home to the Oregon Research Institute and the Educational Policy Improvement Center.

―By Greg Bolt, UO Public Affairs Communications