57
OR FAX FORM ON PAGE 134 TO 503-242-1814
126
PUBLISHED RESERVE:
$177,800
LAST ASKING:
$187,500
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 alongHighway 101. Sewer andwater 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., WEDNESDAY, MAY 15, 2013
Highway 101 Development Parcel for Senior Housing, next to Church
Florence, Oregon
Highway 101
Sandpines Golf Links
Presbyterian Church
N
1...,49,50,51,52,53,54,55,56,57,58 60,61,62,63,64,65,66,67,68,69,...150