BEND, OR -- More than three months after state officials approved Bend’s Urban Growth Boundary expansion plan, developers are chomping at the bit. But, Pat Kesgard, with Compass Commercial Real Estate, says there is a lot of risk in getting involved this early in the process.
His advice to developers: Hold tight just a little longer. "It’s not annexed in at this time, so there’s a lot of ‘ifs’ and risks with these areas. We don’t know if the city is going to want to bring in all four areas at one time. Probably not; probably one or two at a time. That has yet to be determined." City Council and staff are developing an annexation process.
Kesgard tells KBND News, "We’re starting to get phone calls that say, ‘Gee; I want to buy land in the new UGB.’ And, our first question is, ‘Do you understand that you’ve got to get all your neighbors, if you buy in that area, together to agree? And, you have to invest money for these master plans; and you have to be patient." He adds, "When people call me and say, ‘I want to invest in the UGB.’ I say, ‘OK, what about investing now in the current UGB where there’s sewer in the streets, those kind of things?’ We don’t have to go through those ‘what ifs.’"
The approximately 2300 acres of new UGB land is stretched across several parcels on all corners of the city. Click HERE to read more about the plan. Kesgard believes it'll be another five or six years before those areas will be ready for infrastructure and eventual construction. Click HERE to listen to our full conversation with Pat Kesgard, or visit our Podcast Page.