Monday, May 18, 2015

Briefs: New vacation rental rules; hotel developer and Mirror Pond twist



            After months of complaints regarding noise and parking impacts, among other issues, the Bend City Council has approved regulations tightening vacation rental requirements in residential neighborhoods.
            New rentals will need to be spaced at least 250 feet from the property lines of another rental, but existing rentals are in effect “grandfathered” from that requirement.
            The city will require a fee of $1,749 for new rental permits, a big increase from the previous $454. The process will also now involve public notices to neighbors and a more extensive review  by city staff.
            Vacation rentals in commercial areas will not be subject to the 250 foot separation requirement. The fee for those will increase from $454 to $558.
           An existing city regulation requires vacation rental operators to pay a transient lodging tax.
            The new ordinance also sets occupancy limits based on the size of the property; requires a property be rented at least once in a 12-month period; allows a license to be transferred in the case of death or divorce; and requires that owners comply with a “good neighbor policy.”
            The 250-foot separation rule would not apply to owners who rent their properties for fewer than 29 days.
http://bendoregon.gov/index.aspx?page=1281
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Hotel developer looking at city-owned site
           
Could the third time be a charm?
A Springfield based hotel development and management company is considering buying a 3.1 acre site on the north edge of Bend’s downtown core, the third prospective buyer to eye the property in recent months.
InnSight Hotel Management Group is reported to be in a 90-day due diligence period to determine feasibility for a potential 100-120 room hotel, additional living units and retail space for the site at Olney Avenue and Wall Street across from Pioneer Park.
The current asking price is $2.28 million, the same as last month when another hotel company looked at the property but ended talks with the city, according to a report in the Bend Bulletin.
InSight’s portofolio includes about a dozen hotels in Oregon and one in Burlington, Washington, with brand affiliations that include Marriott and Holiday Inn, according to the company's web site.
Another developer, Getz Properties, which developed the Forum shopping area in east Bend, offered $1.9 million for the site in early 2014 but decided not to proceed due to traffic and access concerns, it was reported.
The property is the original Bend Bulletin site, which the newspaper occupied from 1966 to 2000 and traded to Brooks Resources for it’s current location on NW Chandler Avenue. Developer Jeff Pickardt and Todd Taylor later acquired the property and sold it to the city for $4.78 million in 2005, as real estate values were escalating.


Another option proposed for Mirror Pond

            The Tumalo Irrigation District has stepped into the discussion of how to solve problems created by continued silt buildup in Bend’s cherished Mirror Pond section of the Deschutes River.
            A district official says it is considering a way to acquire and upgrade the existing Newport Avenue dam, owned by utility PacificCorp, and continue to generate electricity as a district revenue source.
            The plan would also involve changes to the district’s existing water intake system including ending a diversion from Tumalo Creek near Shevlin Park and another downstream of the Newport dam. A new single diversion would be built at the dam.
            The result could improve flows in the middle Deschutes River and enhance fish habitat by adding colder water from Tumalo Creek to the Deschutes below Bend, the district believes. By giving up the Tumalo Creek diversion the irrigation district would need to acquire additional water rights from the Deschutes.
            It’s not clear how the district’s plan would address passage for fish and boaters around the dam. That issue has been at the top of discussions by a committee of city and volunteer community members on improving flows and limiting silt in the stretch of the river.   
            An leading option in the city-community process has been to buy the dam, remove it, and redevelop the area around the nearby substation as well as other city-owned parking lot property near Drake Park. That plan would involve keeping the appearance of Mirror Pond while also allowing fish and boater passage below the stillwater stretch.

2015 in Bend - Inventory extremely tight in lower price ranges


            A year-to-date quick look at sales of single family homes on up to an acre in the greater Bend area shows continuing upward movement in prices with steadily decreasing inventory priced at less than $200,000.
            In the first few months of 2015 through May 11, statistics gleaned from the Multiple Listing Service of Central Oregon show that homes available at list prices under $200,000 have dropped 70% from the comparable period of 2014.  
             Anecdotally, real estate brokers say some major builders are having difficultly finding contractors to start new homes, which in turn means fewer units available for sale.
            In the $200,000 up to $300,000 price range there is less than a 1.72 months supply of available homes, factoring average month sales through mid-May. Homes on the market in the $300,000 to $400,000 range reflect an inventory of only 2.30 months, another barometer of an extremely tight seller’s market.
            For the same periods median sale prices have risen $15% from $275,000 in 2014 to $315,057 this year to date.