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FOR SUPPLEMENTAL INFORMATION CALL 1-800-845-3524
Highway 101 Development Parcel for Senior Housing, next to Presbyterian Church
Florence, Oregon
PUBLISHED RESERVE:
$187,500
LAST ASKING:
$335,000
SIZE:
2.46± Acres
ZONING:
H (Highway District)
PROPERTY INSPECTION:
At Any Time
FINANCING:
Subject to Seller’s approval of Purchaser’s credit: A
25% down payment with the balance secured by a first deed of trust,
amortized over 25 years at 6% interest, calling for monthly payments
of principal and interest; all due and payable at the end of 5 years.
DESCRIPTION:
This 2.46± acre development parcel is located
along Highway 101 in Florence, next to the Presbyterian Church—
Siuslaw, and was planned as 29 units of apartment-style living,
each unit 875 square feet in size. The single-story two bedroom, one
bathroom units were planned to have covered-parking and were
targeted to the growing fifty-five and older retirement population of
this coastal resort community. There is easy access to nearby 18-hole
Sandpines Golf Links, designed by Rees Jones, which has received
high ratings from Golf Digest. Numerous lakes, Oregon Dunes
National Recreation Area, Florence Old Town District, Three Rivers
Casino and Hotel, Peace Harbor Hospital and medical facilities
operated by Sacred Heart system are close-by. It is projected that the
over-fifty population in the Florence market is due to increase to over
10,000 by 2020.
The site is level and has 175± feet of frontage along Highway 101.
Sewer and water is available and the Presbyterian Church will grant
an easement for extension of sewer and water as well as for access
to the rear of the property. There are three small wetland areas at the
east end of the site. Only one site with an area of .08 acre needs to be mitigated, based on a wetland report filed by the prior owner.
A supplemental agreement with the Presbyterian Church limits the development to fifty-five and older Multi-Family Housing. Multi-Family
Housing is allowed as a conditional-use under the Highway District zoning. The zoning could allow more than 29 units if a multi-story
building with elevator is designed for the site. (Please see Supplemental Information Package for copy of agreement with Presbyterian Church
and city of Florence zoning.)
LOCATION:
East side of Highway 101, north of 37th Street and adjacent to Presbyterian Church--Siuslaw at 3996 US 101 in Florence. Tax
Lot 500, Map 18-12-14-33.
SEALED BIDS DUE NO LATER THAN 5:00 P.M., NOVEMBER 14, 2012
112
Salem Parkway
Sandpines
Golf Links
Highway 101
Presbyterian
Church
N
Please Note: Sketch
plan is conceptual
only. Neither the
Seller nor its agents
have submitted
plan or made any
applications to a
public agency.