At its meeting Wednesday, the City Council approved buying the 1.2-acre site at 705 NE 1st Street and 755 NE 1st Street for $3 million, subject to an appraisal and an 80-day due diligence period. The property is leased by the current owner to MCP Petroleum. MCP Petroleum will continue to lease the property from the City when the purchase closes.
The purchase of the property is an opportunistic public investment that could meet a variety of community needs, including but not limited to a possible future site for City Hall, affordable housing, a civic plaza or other public uses.
City Council goals include developing housing-specific strategies in the Core Area and stimulating redevelopment opportunities in the Core Area.
“This purchase is another exciting step toward the revitalization of the Core Area in Bend,” said Councilor Anthony Broadman. “The Central District will help connect our city and spur the kind of housing, community and smart development we need now and into the future.”
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