Oregon Department of State Lands puts 262-acre second phase of the Stevens Road Tract in SE Bend on the market

Cushman & Wakefield 'exclusive advisor' sale proceeds go to Common School Fund

BEND, Ore. (KTVZ) – Cushman & Wakefield announced Wednesday that the firm has been retained as exclusive advisor by the Oregon Department of State Lands for the sale of ±262 acres of developable land in southeast Bend, the second part of the Stevens Ranch Tract.

Referred to as the Stevens Road Tract – Phase II, the property is within the City of Bend Urban Growth Boundary and presents the opportunity to design a Master Plan consistent with the recently updated Comprehensive Plan, for a minimum of 2,487 residential units, according to the company's news release, which continues in full below, with some additional information:

The Stevens Road Tract provides a very desirable Central Oregon location next to the Old Farm neighborhood and the in-process Stevens Ranch master planned community at the southeastern boundary of the City of Bend. The land offers a sensational view of the Cascades to the west.

The State of Oregon has worked closely with the city of Bend to ensure this parcel is developed into a complete community that includes affordable and workforce housing as part of walkable neighborhoods. Additionally, in conjunction with the development, the city of Bend will receive 20 acres of the site to be deed-restricted for certain levels of affordable housing and schoolteachers.

A Cushman & Wakefield sales team led by Matt Johnson in Portland in collaboration with Matt Davis, Melanie Haynes and Jared Gross of the firm’s specialized Land Advisory Group that is providing advisory services is currently marketing the Tract for purchase.  

"The property is being offered to the market without a specified asking price," Davis told NewsChannel 21.

But to offer context, Davis noted that the 382-acre Stevens Road Tract 1, now being developed, sold for $22 million to Lands Bend Corp. in late 2020.

“The state of Oregon saw significant benefit from the sale of the first phase of Stevens Road Tract, now being developed as Stevens Ranch, and will see added benefit from the sale of these school lands,” says Vicki L. Walker, director of the Oregon Department of State Lands.

“Sale proceeds will go to the Common School Fund, which sends millions to Oregon’s public-school districts each year. A new future large-scale residential project of nearly 2,500 units will greatly support the continued housing needs of Bend, one of the state’s finest cities and remains as a fast-growing city.”

“Recently included in the Urban Growth Boundary, the entire Stevens Tract – Phase II property is ready for master plan approval and annexation into the city of Bend, consistent with the recently updated Comprehensive Plan. The site is strategically located on Stevens Road, a major arterial street serving Bend, and is adjacent to Stevens Ranch,” said Matt Davis, Managing Director. “This offering presents another prime opportunity for a purchaser to deliver much needed and attainably priced housing to the Bend community.”

“Our team facilitated the sale of the adjacent 382-acre Stevens Ranch parcel in mid-2020, which is currently amidst construction of the infrastructure ahead of building out the mixed-use residential community. The combination of Stevens Ranch (Phase I) and Stevens Road Phase II will bring new energy and positive economic growth to the area while creating an exciting new vibrant community within Bend and the state of Oregon,” said Matt Johnson, Executive Managing Director.

Located at 61200 SE 27th St, the Tract 2 site is positioned at 27th St and Reed Market Rd, two major arterial roadways serving southeast Bend. Highways 20 and 97 are also both conveniently located within a few miles, with downtown Bend also closely proximate. The local area also boasts an attractive place to live and work, with many public parks and trails that will be further enhanced with completion of these projects.

Bend has a population of approximately 100,000 people and ranked as the fiftieth fastest-growing population of any city in the U.S. over the past five years, according to a 2023 report from SmartAssets. The Stevens Road Tract Concept Plan takes a unique approach to the planning and development of a complete community on the east edge of Bend, according to the city.

For more information about the Stevens Road Tract Concept Project, please visit https://stevensrd.sharplaunch.com/