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22210798
22204226

1206 SE 28th St, Lincoln City, OR 97367

BB
OR OR# 201236666
SVN Imbrie Realty
Listed by SVN Imbrie Realty
$1,200,000
454 days on market
Updated 68 days ago

Pacific Highlands - Prime Development Site in Lincoln City

Details
APN R401436 & R408674
Property Type Land
Sub Type Commercial, Residential (+1)
Price Per Acre $39,089
Broker Co-Op Yes
Acreage 43.490
Zoning Residential

Land | 43.49 acres

Marketing description

Pacific Highlands offers two adjacent parcels totaling roughly 44 acres. The site is located in the Lincoln City Urban Growth Boundary and within the newly created Nelscott Urban Renewal Area. The Area will have future funding available for expansion of infrastructure, and likely funding to support housing. With annexation, the Urban Renewal Agency will consider an “equitable share” of the transportation network provided on the property to Area- and community-wide systems. Pre-development costs can also be considered in partnership with experienced developers seeking to deliver a compelling project with shared vision. SDC fees may be deferred to Certificate of Occupancy for both market rate and Affordable multi-unit housing development. Recent Affordable Housing Developments now completed, lends a greater need for [AR1] housing types to serving 80%-120% AMI and workforce home ownership opportunities in mixed-income communities, when feasible.

Boasting a consistent annual population growth of 1.31%, limited of suitable building land makes this site attractive. Off of Highway 101, close to schools, and commercial and tourists areas, Pacific Highlands is in the heart of Lincoln City. Only 30 minutes from Newport, 1 hour from Salem, and 2 hours from Portland, Lincoln City continues to deepen its economic base beyond tourism and is becoming an ever more popular retirement destination.

Investment highlights

Highlights:

WITHIN THE URBAN GROWTH BOUNDARY (NO ODOT HURDLES) AND PART OF THE 240 ACRE NELSCOTT GAP NEIGHBORHOOD PLAN

  • SDC DEFERRAL UNTIL CO

• ACCOMMODATES MULTIFAMILY DEVELOPMENT DENSITY UP TO 10 UNITS PER ACRE, or higher

• CITY READY AND WILLING TO PARTNER WITH THE RIGHT DEVELOPER

• CITY WILL ALLOWS MIXED USE, APARTMENTS, SFRS, OR A COMBINATION THEREOF

• NO AFFORDABILITY RESTRICTIONS

• UNDEVELOPED PORTIONS OF PROPERTY MAY STAY IN FOREST DEFERRAL

• WETLANDS HAVE BEEN ADDRESSED; NOT IN INUNDATION ZONE

• OCEAN VIEWS FROM THE HIGHER PORTION

• APPRAISAL SUPPORTS VALUATION OF $4.0 MILLION

• SELLER CARRY FOR EXPERIENCED DEVELOPERS

Listing Contacts

BB
OR OR# 201236666
SVN Imbrie Realty
Listed by SVN Imbrie Realty

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Additional Information

Name
Bjorn Beer
License
OR# 201236666
Brokerage
SVN
Brokerage Phone
541-745-4050
Title
Vice President
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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