A spectacular property set along the Crooked River and representing some of the best of the Northwest’s enviable environment at the base of Smith Rock’s towering walls has regained a firm footing after a series of detours hampered its early history. It has been almost two years since Oregon-based developers Patrick Ginn and Jeff Creagan stepped in to acquire Terrebone’s picturesque Tuscan-style 1,700-acre Ranch at the Canyons at auction after the development had sputtered in the wake of the Great Recession.
And since the pair took over the reins a sense of stability and identity has returned to the project as they have steadily honed the original philosophy of offering homeowners rural estate style living as part of a working preservation ranch, wildlife area and natural paradise offering some of the most stunning views of the surrounding Cascades, desert canyons of Smith Rock State Park and rolling farmlands.
First proposed as a destination resort in the 1990’s by original developers Jim Gardner and Mick Humpreys, that plan was shot down by state land use law that prohibits such projects within three miles of high value crop land.
The team then switched gears to a vision of a community of ranch homes that evolved into around 60 homesites on larger lots, combined with 600 acres of irrigated farmland and 500 acres of protected land – which was zoned for conservation under the auspices of the Deschutes Land Basin Trust.
After shepherding the revised concept through the approvals process and investing some $30 million toward its realization, before the last real estate bust 23 home sites sold – with several lots commanding prices in excess of $1 million – for the opportunity to build elegant homes drawing inspiration from old-world Europe, amid 19 fish-stocked ponds and lakes, Cantera stone pathways, hand-stacked lava rock boundary walls, bridle paths and expansive river frontage.
A diligently crafted Tuscan horse stable and 7,000-square-foot winery-clubhouse-spa, complete with wood-fired oven and gourmet kitchen, perched on a rock outcropping with panoramic views were also constructed as amenities for homeowners.
But progress stalled in the mid 2000s as the worst economic downturn since World War II took its toll on the real estate market, including high-end residential activity, and the remainder of the project languished through a series of investment partnership and bulk sale efforts before ending up on the auction block in late 2012.
That is when Ginn and Creagan emerged as highest bidders to claim the remaining home sites plus a controlling interest in ranch management, including the stables and clubhouse.
Ginn said among the first moves they made to refocus long-term goals was to reduce the number of overall lots and change the ownership structure.
He said: “We cut 14 lots from the original 60, mostly those on or near Coyote Butte as having structures prominently visible there may have been somewhat obtrusive, and when 75 percent of the landholdings are sold ownership will formally transfer to the Home Owners Association (HOA) while preserving more land for open spaces.
“We certainly appreciate that existing and prospective homeowners here really want to enjoy the natural environment.”
To further that cause, ownership was also reorganized under what is known as a Tenancy-in-Common (TIC) agreement under which each owner possesses a 1/46th undivided interest in non-residential acreage and common facilities of the ranch.
Within each created private landholding, ranging from four acres to nearly 14 acres, there is a designated building envelope and landscape area and all tenants-in-common have the right to possess and have access to the entire property, giving everyone equal access to all the pristine areas of the ranch.
More than 500 acres of land have also had development rights transferred to the Deschutes Basin Land Trust, providing permanent protection for conservation, open space and wildlife habitat.
The ranch has a working agricultural component and Ginn said that part of the operation was transferred primarily into the hands of a local farmer instead of being undertaken in-house, which has had a significant impact in reducing HOA fees
Ginn, who currently spends two weeks out of every month at the property, added: “Part of our aim is to take the land and views that define the Ranch and finish building a community worthy of the original vision.
“We have also strived to return investor confidence, including through a design review process for future owners, and have reached out to existing homeowners to show we are here to see things through and that we have a compatible philosophy in evolving this community.”
But those lofty ambitions may never have got off the ground had Ginn’s associate, homebuilder Creagan, not taken a wrong turn while looking for a local pumpkin patch in Autumn 2012. There he found a rock wall outlining an unfinished community and a sign advertising the auction.
Scouting the property sparked Creagan’s desire to be involved. He said: “As I drove around the community, the first thought I had was ‘Wow, this is probably the most beautiful place I’ve ever seen.’ But then I thought I’d love to have a place out here someday, but not the way it currently is.”
Sensing an opportunity to build a community unlike any other in the Northwest after the original builders were unable to finish the project as originally envisioned, Creagan partnered with Ginn, whom he has worked with on several similar projects in the past, to bring life back to the Ranch, and after purchasing the property the two set out to preserve the land and give homeowners more control of the community.
Creagan added: “The place had somewhat struggled through the recession, but we felt like we had the energy, ability and passion to take it on and restart progress towards realizing the potential of what the ranch could be.”
Now, with half the total lots sold, activity is gathering momentum, including two new homesites under construction and a 3,700 square foot Tuscan design model home completed by Ginn and Creagan (under their Bella Vista Ranch Homes name) which won Best in Show in the $1,100,000+ category of this year’s Central Oregon Builders Association (COBA) Tour of Homes.
Additional investments have also included improvements at the ranch’s Monkey Face Vineyard – named in honor of world-renowned climbing Mecca Smith Rock’s iconic 350-foot spire which punctuates the facing landscape.
One of only a few working vineyards in the region, Monkey Face Vineyard grows several French-American hybrid varietals selected specifically for the Central Oregon terroir and climate, overseen by master winegrower Kerry Damon, and just had its best-ever harvest at over 8.6 tonnes, with plans to bottle and sell through partnership with local wineries.
Vineyard education events are held at the plantation and the ranch also qualifies as an agri-tourism site which allows it to sponsor up to six private events a year, typically in the form of weddings.
The ranch has also proved a popular movie and photo spread location, including providing part of the backdrop for the upcoming wilderness adventure film Wild, based on the bestselling memoir by Cheryl Strayed, and scheduled for a December 5 release.
The movie stars Reese Witherspoon as a woman who goes on a 1,100-mile solo hike on the Pacific Crest Trail, undertaken as a way to recover from a series of personal catastrophes.
The helicopter scene for the movie Swordfish, featuring John Travolta, was also previously filmed at the site, as was The Postman, starring Kevin Costner, while the scenic setting has featured in photo shoots by everyone from LL Bean to the Discovery Channel. Funds from such commissions go to the HOA.
Ginn said he has observed something of a shift from larger homes to more conservative sizes in the marketplace, and the adjustment of lot prices, now generally in the $300,000-600,000 range, could open the door to more local investors.
He added: “A number of our current homeowners are actively involved in conservation. They pay a lot of attention and want to be involved in being good stewards of the natural environment.
“They are also typically pretty active and enjoy available activities such as hiking, horse riding and bicycling.
“It seems like conditions in the higher-end real estate market are improving again with confidence returning in developments like ours and those such as the Brasada Ranch, Pronghorn and Tetherow resorts.
“As developers, we are committed to working with homeowners to cultivate the amenities, which in turn helps attract more buyers.
“We are evolving this project together and are invested in working towards common goals. We want to see the place fully built out and thriving, and for it to be a successful community.”
Ranch At the Canyons, 11050 Vineyard Way, Terrebonne, OR 97760.
www.ranchatthecanyons.com
541-383-7193
