(Rendering courtesy of NAI Cascade)
The Ochoco Lumber Company has been a part of Prineville’s community since it first opened in 1938. The mill provided permanent jobs, economic development, population growth and contributed to the culture of the region, even after they ceased operations in Prineville in 2001.
At that point, Ochoco Lumber Company saw themselves as integral in the local community, and wanted to make sure that their mill’s former land would be developed into something that benefits the people of Prineville. This became the Ochoco Mill master-planned mixed-use project.
On May 28, 2024, Ochoco Lumber Company sold a portion of their former mill site property to North Peak Development Group, but it was then sold again to Cobalt, a real estate development and advisory firm, with plans to break ground on an exciting new development for the City
of Prineville.
According to Megan Irwin of Cobalt, the first building at the Mill at Ochoco will be open the first week of July. The rest of the property is expected to be delivered in its entirety in late Q4 2026. The first building will contain 192 units of housing, centralized around one-, two- and three-bedroom apartments with a starting monthly rent of $1,600 for the smallest and most affordable units.
The units will range in square footage from 667 square feet to about 1200. The units come equipped with AC, ceiling fans, stainless steel appliances, hardwood floors, private patio/balcony depending on floor level, in-unit storage, in-unit washer/dryer, and bike hooks for convenient storage on patios/balconies.
Aside from in-unit benefits, the community itself is well-positioned for outdoor recreation. The Mill at Ochoco will allow outdoor enthusiasts a basecamp for activities in the Ochoco National Forest, hiking and biking the many trails near Prineville, and enjoying the water of the multiple nearby lakes and reservoirs. From winter to summer, this new community is never too far from the outdoor recreation that makes Central Oregon such a sought-out destination.
In addition, the whole community has access to many high-end amenities, such as a private dog park, a pool and hot tub, a 24/7 indoor/outdoor gym, and a sauna. Residents can enjoy the on-site yoga studio, the rentable clubhouse/kitchen, the sport court for games like basketball and pickleball, the hammock lounge, coworking pods for convenient remote work, and EV charging to help accommodate a wide range of vehicles and lifestyles.
“With the Mill being the first development of its kind here in Prineville, we wanted to hit every major point and take after other nearby communities to see what has successfully drawn in potential residents and new community members,” said Irwin. “With continued growth from companies like Meta, Google and others, combined with an influx of people coming into the region from more urban and densely populated areas, it’s possible that Prineville could see more developments like this one in the future.”
The Planning Director for Prineville, Josh Smith, spoke about the background of the development and the financial hurdle that had to be overcome in order to break ground.
“The project had been conceptualized back when the Mill created the mixed-use plan,” he said. “The difficulty came with timing, as the former buyer had multiple projects going on and didn’t end up making significant progress.”
After Cobalt picked up the reins to the development, Smith mentioned that “the state came out and asked us what we needed for multifamily housing. We told them we need $3 million, they gave us $2 million through SB 1530.”
Oregon Senate Bill 1530 was an emergency housing production package that is aimed at addressing the critical need for affordable housing in Oregon by appropriating funds for various housing projects and related services. As an emergency declaration, the bill took effect as soon as Governor Tina Kotek signed the bill on April 17, 2024.
According to Smith, the bill provided funding to the region that was put into four different projects; the Mill at Ochoco being one of them. Locally, the funding primarily focused on expanding water and sewage service to the affected properties, helping the bottom line and getting things going. That, along with the FTC deferral program, allowed the development to break ground and address the critical need for housing sooner than it would have otherwise.
With this development, Prineville will drastically increase their supply of housing, with hopes to “bring down or stabilize” rent prices, according to Smith.
