The SE Elbow is Heating Up
By Walt Ramage | March 17, 2021
Activity is really starting to heat up in the SE Elbow, a 479-acre expansion area in SE Bend including Caldera High School, Bend’s newest school plus slated parks, middle school and elementary school.
With Approval of the Bend Comprehensive Plan and Bend Development Code to implement the Southeast Area Plan anticipated May 2021, developers and landowners alike are really starting to make some moves. A well established out of town multi-family developer is in contract on 17 acres of RM and the only RH zoned land in the Elbow. This transaction was facilitated by Walt & Jeff and is scheduled to break ground in 2022.
Walt and Jeff also recently listed 65 contiguous acres in the Elbow, a mix of RS, ME and IL zoned land, with more coming to market in the very near future.
2021 will be a continual push to lock up developable land and businesses moving laterally to prepare for the future anticipating a post-COVID work environment. We will continue to see compressed CAP rates as the demand by out of area investors relocating to the Central Oregon region look for cash flow opportunities in their new found home.