(Photo above courtesy of Brooks Resources)
The Bean Foundation, a nonprofit organization dedicated to bettering Jefferson County and Madras, plans to purchase Yarrow from Madras Land Development Company LLC, a wholly owned subsidiary of Brooks Resources Corporation. The purchase includes 49 developed lots and 20 acres of bare land remaining in the master-planned community.
“The Bean Foundation agrees with the vision, philosophy, and development goals of Yarrow, and is pleased to continue providing a livable community in Madras,” said George Neilson, president of the Bean Foundation Board. “We will provide a smooth transition into the future and will continue the core values and goals that brought about the development.”
Yarrow began in 2007 with a partnership of three long-time Central Oregon companies, TaylorNW, Jeld-Wen and Brooks Resources Corporation. The Bean Foundation, too, has been a participating partner in the project since its inception. In 2009, Brooks Resources took over as the sole developer of the property. With roots in Central Oregon that go back nearly 100 years, Brooks Resources has a history of thoughtful development for the entire region including Madras.
The decision to sell Yarrow was financially based, in part due to the slow economic recovery in the area and to take advantage of tax losses associated with the project. Brooks Resources will remain involved as needed through the end of 2016 to manage the architectural review process for the neighborhood.
Mike Hollern, CEO of Brooks Resources Corporation, said, “We are delighted that The Bean Foundation is purchasing Yarrow, as we believe this is the best outcome for the long-term interest of Madras. With a goal of improving quality of life for citizens in Jefferson County, we know that The Bean Foundation will work with the City of Madras to carry out the vision of Yarrow in the best possible way for the future of the region.”
Through time, the Bean Foundation has been involved in and supported a number of land-based projects including Juniper Park, the Madras Aquatic Center MAC, Bean Park, and the middle school. A number of programs in Jefferson County that enhance the quality of life for its residents, emphasizing children, have benefited from support by The Bean Foundation, such as The Kid’s Club, Madras Adventure Gallery, high school track, Warm Springs Boys and Girls Clubs, and MAC’s Out of Pool Recreation Programs.
Yarrow is situated on hills to the east of Madras, with some of the most spectacular views in Central Oregon and easy access to many of the region’s outdoor recreational activities.