BEND, OR -- As Bend continues to struggle with a lack of affordable housing and historically low retail vacancy rates, a couple of projects now in development could bring some relief to both markets.
Russell Huntamer, with Compass Commercial Real Estate, says one is in the works at the former site of Ray’s Food Place on Century Drive. After sitting vacant for several years and a major roof collapse in January, the grocery store was torn down in March. Huntamer tells KBND News, "The most likely plan, right now, that’s being considered is about 25,000 square feet of retail on the ground floor, with up to 180 apartments above that – four to five stories. And then the same thing goes for the five acres east of the Box Factory." The Box Factory is on NW Arizona Ave. Huntamer adds, "Where Atlas Cider, Immersion Brewing and Strictly Organic with the drive-through, that location there – five acres to the east of there, about 25,000 square feet of retail on the ground floor, and about 180 apartments above it, as well."
He says both projects are in the early planning stages and won’t be ready for tenants for more than a year. "Probably not until 2019; it takes that long for approvals and construction. And, the demand that we have in the meantime, it’s going to be very difficult to meet; at least from a retail perspective."
Photo: Five acres east of The Box Factory on NW Arizona Ave. could soon feature a large retail and multi-family housing development.