(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.
www.yarrowliving.com
2 Comments
Does this organization have any plan to build or offer affordable housing to retirees like myself that are affordable in the Yarrow plan. Quickly SFD are becoming unaffordable in Central Oregon I have been a college teacher for 20 years and am retired. Redmond is an ideal retirement area but building for existing residents is critical. If these ideal sites and the pool are only available to the wealthy who move here from other states, who will plan for and look out for the single family retirees who dreamed of retiring in Madras and it is mostly dependent upon the ability to purchase a house under $200K. If these homes have a $300HOA and local residents already live here and have joined the pool project with membership why is a $300 HOA reasonable except to exclude local residents from this project. I do not see any effort to build reasonably priced housing for locals and the long time residents of this area. How can you claim you are working for Madras if no one who lives here can afford to buy a new home here?
I would particularly like to hear back from the Planning Dept. of Madras. I am not rich, but I have lived here a long time and taught here. I do to want to be chased out of Oregon due to greedy construction projects who only want to get rich, not serve the population who lives here.
Sincerely, Lauran Jo Potter 541-306-8120 PLEASE RESPOND !
Well, I am surprised to see my note on this article. I am so delighted that Bean Foundation is considering purchasing Yarrow. It is a lovely idea for local development and will be adored by anyone who wants a quiet and reasonable retirement community. Please contact me if I can be of any assistance in helping this effort. I’d love to help this goal to be found. I adore the aquatic Center and the stars of Madras. This is an ideal community for the middle class that can’t afford Redmond or Bend. It would make an ideal location for Arts and Crafts, Sr. Classes held at the COCC center for those who are educated and don’t want to stop studying. Madras has a potential to save the day for many retirees with a passion for this community !