(Graphic elements | courtesy of NAI Cascade Commercial Real Estate)
NAI Cascade Commercial Real Estate’s Partner, Co-Owner and Principal Broker Jenn Limoges, CCIM announces the closing of 11.22 acres of multifamily land located in the Ochoco Mill, a master-planned, mixed-use development comprising just shy of 30 acres of commercial, office, retail and multifamily-zoned land in Prineville. The closing occurred on May 28, 2024.
The City of Prineville, the county seat of Crook County, is located 35 miles from Bend and is a popular tourist destination for outdoors enthusiasts. Ochoco Mill, the former Ochoco Lumber Company site, is located on the eastern edge of Prineville. Located just south of U.S. Highway 26 (Ochoco Highway), the site straddles Ochoco Creek and is adjacent to the Ward Rhoden Stadium and near several schools.
The property operated as a lumber mill for more than 60 years and employed 85 people when it closed in 2001. The former mill buildings were demolished after the closure of the mill. This sale is the largest tract of land sold at the Ochoco Mill since the sale of 6.25 acres of retail property in February 2022 with newly constructed buildings now home to Wilco, Walgreens and AutoZone.
“As a company with over 90 years of deep roots in Prineville, we are excited to contribute to the solutions that will help our community grow and thrive,” said Wanda Rasmussen, chief operating officer of Ochoco Lumber Company (seller), Malheur Lumber Company and Deschutes Pine Sales. “We are looking forward to seeing how the next phase of development will enhance and complement this site.”
Lake Oswego’s North Peak Development Group (buyer) managing partners Jeb Koerner and Jeff Wallenius have a strong vision for the project. In keeping with the Ochoco Mill Master Plan, their project “represents the community’s vision for economical and responsible redevelopment of an underutilized piece of property in the heart of Prineville.”
The site plan approved by the City of Prineville and the County calls for 312 apartment units spread out over two phases which include eight, three-story buildings (see image.) The plan takes maximum advantage of the nearby Ochoco Creek, the Rails to Trails path and will bolster the nearby retail and office businesses, which include Ochoco Lumber Company, Wilco, Walgreens, AutoZone, Clinic Pharmacy, Domino’s Pizza, Eyecare, Denture Center and T-Mobile. There will be plenty of greenspace and amenities such as a clubhouse, fitness room, pool, bocce ball court, putting green, picnic/BBQ areas and playground area.
“We’ve heard from both the business community and the residents that the options for housing are slim and are therefore preventing sustainable, healthy growth that this community deserves,” said Jeb Koerner. “This development will bring an affordable option for employers, future employees and entrepreneurs alike a place to live, work and play.”
“I have been a part of Prineville since 2003 with my parents residing in this great community,” said Jeff Wallenius. “We have recognized a need for quality rental housing for several years and our team is excited to be part of the solution in this area.”
North Peak intends to start construction as soon as possible.
Ochoco Mill has three remaining property tracts available including two larger parcels at just over five acres and a single one-acre parcel. Along with these development properties, Jenn Limoges is also listing a 6,750-square-foot office building, originally constructed as the Ochoco Lumber headquarters and located within the Ochoco Mill Subdivision at 200 SE Combs Flat Road.
