After
first coming to market unsuccessfully nearly a decade ago one of Sisters’ most strategically located and largest property blocks has yet to attract a buyer, but a possible expansion of acreage could now sweeten the offering.
Any
conventional developer will likely still be facing a lengthy process involving zoning
changes and extensive public comment before moving ahead with a new vision for
the property.
The
site is approximately 66 acres now housing district federal Forest Service
offices, bordered by Highway 20 and Pine Street on the western edge of the main
downtown retail district.
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| Forest Service site map by Compass Commercial |
The
Forest Service offices are said to be obsolete and in need of substantial
updating, prompting the attempted sale with proceeds earmarked for construction
of new facilities.
In
late February the Forest Sevice raised the possiblity that another 13 acres
could be added to the proposed sale, although district ranger Ian Reid said the
decision has yet to be confirmed and will await results of a public comment
period.
Some
early media reports indicated the federal agency was considering an auction of
the property, which is currently listed with Compass Commercial real estate of
Bend for $8 million.
But
Reid said an auction was not being considered and that the property listing
would continue with Compass as the decision to possibly add the 13 acres is
analyzed.
“I
think there was some confusion on the property sale of the additional 13 acres...we’re
not doing an auction. We havent made that decision yet (on additional acres) It’s
a proposal right now ... we’ll make that decision within 30 days.
“It’s
out for public comment now. It’s not a
guarantee that it will happen but it’s probable,” Reid added.
The
property first came to market as an online auction in 2008 for a reserve of $14 million in a
challenging environment as financial markets were roiled by a collapse in
housing and mortgage backed securities.
The auction would have resulted in funds to build a new
Sisters district office adjacent to the property for sale as well as the new
Fort Rock-Deschutes Forest Service headquarters in Bend.
Although officials at the time said both facilities depended on the Sisters sale, the Bend facility has since been constructed on what was the agency's Pine Nursery land on Bend’s east side.
Although officials at the time said both facilities depended on the Sisters sale, the Bend facility has since been constructed on what was the agency's Pine Nursery land on Bend’s east side.
In 2008, Sisters
officials had acknowledged the need to work with a potential buyer on a
possible zoning change to make the property more economically feasible for
private development.
But
a community survey with 420 responses listed a pool and ice rink, senior
center, open space with trails and a performing arts center among public
preferences.
At
that time, then Sisters Mayor Brad Boyd told the Bend Bulletin that it was
likely a buyer would propose a zoning change to mixed use, then enter
negotiations with the city and community to better define what would be built.
“It’s
going to be a long, dare I say messy, process,” Boyd was quoted by the
newspaper.
The
most recent listing by Compass Commerical on the real estate service LoopNet calls
the site an, “Extremely rare development opportunity...”
It also provides, “...a natural
connection between downtown and the newer retail development on the Northwest
end of town.” the listing reads.
The
listing also notes, “The city has amended their comprehensive plan to allow for
a broad range of commercial and residential uses.”
However,
the current city zoning for the largest of three parcel remains designated for
public facilities. Another six acres is zoned for open space such as a park and
the remaining for urban area reserve.
In
comments reported by the Bulletin, Sisters community development director Patrick
Davenport said a new owner will probably have to obtain new zoning to reflect
the city’s comprehensive plan.
“We’re
looking at a two-to-five year process just to get the intial work done,” Davenport
was quoted.
