$100 Million+ Project Launched Overlooking Deschutes
A parcel off of Century Drive in Bend will be the site of a $100 Million+ project. Learn more here.
BY SIMON MATHER — CBN FEATURE WRITER
Ground has been broken on a spectacular site overlooking the Deschutes River in Bend which will feature luxury condominiums and, in the future, a 4-star and 5-star hotel, complete with a rooftop bar, as part of a 7.6-acre mixed-use development off Century Drive with an estimated price tag north of $100 million.
Ridgeland, Mississippi-based developers Wealth Hospitality Group plan to roll out the project in three stages, starting with The Ridge consisting of 37 high-end condos across five four-story buildings, boasting pristine…
‘A man-made disaster’: Oregon’s new governor tackles housing
Oregon Democratic Gov., Tina Kotek, will focus on affordable housing and combatting homelessness. Learn more here.
By CLAIRE RUSH/Associated Press/Report for America
SALEM, Ore. (AP) — Oregon’s newly sworn-in Democratic Gov. Tina Kotek signed three executive orders intended to combat homelessness on her first full day in office Tuesday, a sign of how critical the shortage of affordable housing has become in the state and across the nation.
The orders call for boosting construction and marshaling resources to help the nearly 18,000 people living outside in Oregon.
Advocates welcomed the measures. But they said that shoring up mental health and addiction services must also occur in order to help people move off the street.
Just last year, Oregon lawmakers…
Bend City Council Approves Changes to Short Term Rental Rules
The Bend City Council has approved some important changes to Short Term Rentals. Find out more about the changes here.
In a 6-0 unanimous vote, the Bend City Council approved code changes that increase the buffer between Short Term Rentals and provide flexibility for property owners.
Changes include increasing the buffer zone between permitted Short Term Rentals from 250 feet up to 500 feet in residential zones, as well as in portions of the Mixed Riverfront zone. The proposed changes would also allow Short Term Rental permit holders to rent out their properties as a long-term rental without losing their short-term rental license for up to three years.
These code changes were informed by results from a Short Term Rental…
Central Oregon real estate market in a period of transition
Central Oregon is seeing a “more balanced real estate market.” Learn more here.
Central Oregon sellers may find that they’re not getting multiple offers within days of listing their homes for sale, but that doesn’t mean the market is turning in favor of buyers.
It does indicate, however, that a transition is building from a seller’s market to a more balanced real estate market for Central Oregon, said Donnie Montagner, owner of Beacon Appraisal Group in Redmond. Real estate professionals say that more homes are up for sale and taking longer to sell. When those two home-sales components change, it creates a more balanced market for buyers and sellers, Montagner said.
Prior to the pandemic, in 2020, a single-family home…
Rent hikes capped at 14.6% for most Oregonians next year, the highest since limits passed
Landlords in Oregon may legally increase rents by up to 14.6% at the start of the new year. Learn more here.
In a state with one of the most challenging housing crunches in the country, Oregon renters could face the highest possible maximum increase since the Legislature enacted limits on rent hikes three years ago.
Starting Jan. 1, 2023, landlords in Oregon may legally increase rents by up to 14.6%. This year, the cap is 9.9% – marking a 4.7 percentage point jump from one year to the next.
According to apartment rental company Zumper, the average rent as of Tuesday for a 1-bedroom residence in…
Deschutes County selling SW Bend parcel to Kôr Land Trust/Housing Works for affordable housing
Seven acres along Simpson Avenue will become a 110-home affordable housing project. Learn more here.
BEND, Ore. (KTVZ) — Deschutes County commissioners voted unanimously Wednesday to sell about seven acres along Simpson Avenue, near the OSU-Cascades campus, for $1.3 million to a partnership of Kôr Community Land Trust and Housing Works for a 110-home affordable housing project.
The county issued a request and received several proposals for the county-owned land in the 19700 block of Simpson Avenue, north of the OSU-Cascades expansion area. It requested plans for a mix of affordable housing, defined as for those earning 60% of the area’s median income for renters and 80% of AMI for home buyers.
The results of the request for proposals…