250-266 Southwest Cummings Avenue
Multifamily site near Oregon State campus. Potential student housing or affordable housing site.
Marketing description
The Southwest Cummings Avenue properties are located in the area of South Corvallis. Characterized by having direct access and proximity to OR 99W, a main artery to the city, the properties are neighbored by commercial activity to the east and largely residential to the west. With that, the location provides easy access to major thoroughfares such as Corvallis-Lebanon Highway 210 + Philomath Boulevard and nearby shopping centers, restaurants, and entertainment options.
The properties are located in South Corvallis, OR. Almost directly off of OR 99W, the properties are highly accessible to both commercial & residential traffic, and share a proximity to both uses. Transportation in the area is convenient, with multiple bus routes connecting South Corvallis to other parts of the city. Additionally, the neighborhood's proximity to Oregon State University, situated just north of South Corvallis, offers easy access to cultural and educational resources.
Investment highlights
- Urban Renewal - The properties lie in a new urban renewal district that may support projects with affordable housing.
- Floodplain - About 40% of the site lies in the 100-year partially protected floodplain, regulated by LDC 4.5, which requires volumetric fill exchange and specific building design.
- Riparian Corridor - A Highly Protected Riparian Corridor runs along the southern boundary. Under LDC 4.13, development is prohibited within 100 feet of the Mill Race's top of bank.
- Public Improvements - Public improvement requirements would be determined with Public Works. The City will likely require right-of-way dedication and construction of a 3/4-improved street along the full frontage, and may allow a local improvement district for partial reimbursement.
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