Developers Consider Low Income Housing in Liberty Park – Medford News, Weather, Sports, Breaking News

0


A man cycles past Liberty Park in Medford. [Mail Tribune /Andy Atkinson]

Medford has found two companies competing to build a flagship social housing project for the Liberty Park neighborhood.

Rubicon Investments of Medford partnered with Edlen and Company for the project, and the other company is Standard Communities, which worked primarily on the east coast.

Daniel Bunn, a former member of Medford City Council, is President and CEO of Rubicon Investments, which has built many large projects all over Oregon.

Just north of Les Schwab on Central Avenue, the Medford Urban Renewal Agency purchased a warehouse and the surrounding 3.25 acres in 2019 for $ 1.75 million, which would be the site of the housing project.

The Liberty Park neighborhood, just north of downtown Medford, is in the midst of an ongoing redevelopment effort to modernize this low-income neighborhood of the city.

MURA is trying to attract a developer to build around 100 to 125 units on the property. A separate warehouse is under consideration for a potential community center.

On Thursday, MURA’s board of directors, made up of city councilors, agreed to set up a rating committee to determine which of the two development companies will be selected to build the project.

The rating committee will make its recommendation to MURA’s board by November 10, and the board at its special meeting on November 23 will likely select one of the companies.

At this point, no specific design has been submitted for the housing complex, which would be built between Central Avenue and the neighboring rail tracks. However, Rubicon and Elden have indicated that they plan to build 155 units in a four-story building. The partnership also envisioned a community center in the existing warehouse.

Standard said he envisions 108 to 120 units in two three-story walk-ups.

The company selected by MURA would have the exclusive right to develop the property.

Weiss said the rating committee will review the strength of the companies and their ability to complete a project of this size as part of the selection process.

The actual project is likely to vary considerably from these early estimates, depending on a number of factors including construction costs, types of grants and funding.

“It all depends on where the funding is coming from,” he said.

He said there is a big difference in cost between a three- and four-story building, which will weigh in on the final design of the project.

Developers are looking for an “ideal spot” between the type of construction of the building, number of units, financing and other factors, Weiss said.

Two other companies had expressed interest in the project, but for various reasons did not submit proposals, he said.

“The point to remember here is that there are two very skilled and knowledgeable developers interested in this project,” Weiss said. “If all of this goes forward, it will be a demonstration of other projects that could be developed in other urban areas of Medford.”

Another MURA project with local developer Laz Ayala is under construction at the corner of South Holly Street and West Eighth Street, which will have 58 units, offering studios, one-bedroom and two-bedroom apartments in a three-bedroom apartment building. floors.

Contact freelance writer Damian Mann at [email protected]


Share.

Leave A Reply