A Cushman & Wakefield Brokered Transaction
Two large-scale projects planned for Cottage Grove are another sign that the city’s long-dormant housing market is coming back to life.
If the builders proceed as planned, they will build 226 homes on more than 100 acres of the city’s East Ravine area.
“This is significant,” said City Planner John McCool. “We have had stagnant development for a long time.”
Developer D.R. Horton is planning a 134-lot development on 61 acres. The proposed construction area is north of 70th Street and about one-third mile west of Keats Avenue.
Newland Homes plans to build on 92 lots on 39.5 acres, next to the other development.
McCool said the East Ravine area is the city’s next area for growth.
At 4,000 acres, East Ravine will be one of the biggest single developments in state history. The area, mostly to the east of Keats, is projected to ultimately have 6,554 new homes, including apartments and single-family homes.
Building in the area was jump-started in October, with the completion of the city’s $15 million city hall and public safety building.
McCool said the developers have submitted concept plans, which the City Council approved Dec. 19.
The developers need to take several more steps before groundbreaking can begin. The zoning for the land, now farmland, must be changed to allow single-family homes.
“It is good to see new growth,” said McCool.
Source: Pioneer Press