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State closes $22 million sale of Stevens Road tract in SE Bend for mix of uses

Stevens Road Tract aerial
Cushman & Wakefield

Deal goes ahead as planned, despite COVID-19; benefits Common School Fund

PORTLAND, Ore. (KTVZ) - The Oregon Department of State Lands, on behalf of the Common School Fund, has closed its $22 million sale of the 382-acre Stevens Road tract in southeast Bend, the real estate firm Cushman & Wakefield announced Monday.

Under the deal announced last spring, the property is designated for development to a mix of residential, commercial, and industrial land uses under the city of Bend's comprehensive plan, according to the brokers, whose news release continues below:

The buyer, Lands Bend Corp., is processing a master plan consistent with the City of Bend Comprehensive Plan. The transaction closed as scheduled on Nov. 19, despite the disruption of the pandemic, the parties said.

Gary Miller, president of Lands Bend Corp., said, “Stevens Ranch will provide, in addition to Parks and Schools, much needed housing, commercial centers and industrial opportunities. Bend is undoubtedly the finest city in the state, and Stevens Ranch, one of the largest master plan communities in the Pacific Northwest, will strive to meet the expectations of the community.”

Vicki Walker, director of the Oregon Department of State Lands, said, “Sale of these school lands benefits Oregon tremendously. Sale proceeds are going to the Common School Fund, which sends millions to Oregon’s public-school districts every year. Development of the property also helps meet Bend’s growing housing needs.”

“The Stevens Road Tract is situated in a highly desired central Oregon location and at just over 382 acres, this expansive site created the opportunity for the development of a substantial residential community with supporting commercial uses,” said Matt Johnson, executive director of Cushman & Wakefield.

“The local area boasts an attractive place to live and work, with many public parks and trails, and that infrastructure will be further enhanced to include new schools and public parks, by the buyer’s plans for the site,” he said.

Located at 21425 Stevens Road. the site is located adjacent to 27th St and Reed Market Rd, major arterial streets serving this part of Bend. Highways 20 and 97 are both conveniently located within a few miles, with downtown Bend also closely proximate.

Approximately 369.9 acres of the site offering are zoned Urbanizable Area (UA) and will need to be annexed into the city as part of the project, while 12.15 acres are already within the city boundary and designated as Standard Density Residential (SDR).

Matt Davis, director with Cushman & Wakefield, said, “The exciting master plan for this site looks to fulfill the city’s vision for this portion of Southeast Bend and include much needed, attainably priced housing, which we believe will be a welcomed use, to help (meet) demand for new housing in the area. In-migration has been the primary factor in the area’s growth, with thousands of people moving to the region every year.”

The tract is currently surrounded by residential land uses to the north and west, rural undeveloped land to the east and Deschutes County's Road Department facilities to the south.

With a population of over 100,000 people, Bend is the largest urban area in Oregon east of the Cascade Mountains and the state’s sixth=largest city. Bend ranked as the second-fastest growing city in the U.S. in a recent 2020 report from WalletHub analyzing a variety of data points between 2013 and 2019. Bend also tied for first for the highest job growth over the same period.

Bend serves as a regional service and trade center for Central Oregon. More than two-thirds of all the jobs in the county are in Bend, and many companies are continuing to move their businesses to the Bend area.

KTVZ news sources

Comments

10 Comments

    1. “Bend is undoubtedly the finest city in the state”
      🤔
      I would be very nervous trusting someone who talks like this to successfully develop hundreds of acres in bends notoriously cyclical property market

  1. Where is the water going to come from to support Bend’s hyper growth? We live in the arid portion of the state and have been in drought conditions since 2015 with no change in the foreseeable future. Drought predictions show CO will experience 66% chance of prolonged drought and over 13% chance of extreme.

    1. Me too. My family has been in Bend/Sisters area since the 50s, and we can no longer afford to live here. I can’t believe both the transportation and library bonds passed. Just goes to show how many Californians have moved here. This would have never passed even five years ago.

  2. More lost Deer habitat, more Old Growth Juniper trees will be destroyed, and just think in the Summer when the winds are out of the South, the aroma of the landfill will waft over everything. The upside is they will kick all the bums out, oh wait a moment, they already have because they were trying to sell it and did not want the future buyers to know they would be displacing people from their “homes”, so a lot of these bums are now camped out near lowes, around Juniper ridge and East of Redmond.

    1. We have a homeless camp right behind our house off Murphy and 97. The police have been out there repeatedly because of a couple living in a tent who abuse alcohol and have repeated domestic violence disturbances. The more they are moved off outlying properties, the more we will see them moving to areas inside town. The area behind us is well posted with no trespassing signs, but the police said they are not enforcing it due to COVID. Doesn’t seem fair to the property owners who will ultimately have to clean up the trash and human waste that will be left behind. And those of us with property in the area are subjected to their screaming in the middle of the night only to be told the police have already been out there three nights in a row and will go tell them to “quiet down”. The eventual plan is to develop the land into a huge neighborhood the likes of NW Crossing behind our home. We have a large herd of deer that will be displaced as well as a forest of old growth trees. The developers could care less. It’s all about the money, and so long as Bend keeps being advertised as the best city in the country to move to, there is no hope to save the once quiet, small town we once loved.

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