Let’s Talk Real Estate – December 2014/January 2015

Since the financial crash of 2007, Southern Oregon has suffered high unemployment and little growth; but that all seems to be changing. We have been watching quietly as new homes are being built, businesses continue to move-in and acres and acres of grapes are planted.

Home Building and Commercial Development—There are currently 109 new homes for sale and 68 new homes pending in the valley. They range from $179,000 in Medford, Rogue River and White City, to $895,000 on Ashland Creek road in Ashland. Even our small town of Jacksonville has 16 homes under construction.

That’s just the beginning of what’s to come with some large developments already approved with some construction underway. Stewart Meadows Village, which sits between Highway 99 and Myers Lane and between Garfield and Stewart, just broken ground on 79 acres with 190 homes and retail. Sky Park received final approval and will consist of 26 residential units above the city-owned parking lot at 206 Central. The Cedar Links development on the former Cedar Links Golf Couse has already seen a 5.5 acre park being built by the City of Medford with the rest being developed as residential and retail. Just outside Jacksonville’s city limits, the old dump is currently being developed into 2.5 and 5 acre residential lots.

On the commercial side, 18 acres called the “Southeast Village Center” on North Phoenix and Barnett Road is in the final stages of approval with the Medford planning commission. Also, in final approval with the Bureau of Indian Affairs, is a 2.42 acre Coquille Indian tribe $26 million casino which will be located on Highway 99 at the former site of Roxy Ann Lanes and Kim’s Restaurant.

In downtown Medford, on the heels of the new multi-story, One West, County Health and Lithia buildings, we’re about to see a 47,000 square foot multi-story police station being built. Speaking of Lithia, they have built four new dealerships on Highway 62 past Costco for Nissan, Honda, VW and BMW. And speaking of Costco, they are in talks with the city of Medford to build a new larger and more conveniently located store next to Traders Joe’s and REI. Lastly, it’s true; “In and Out Burger” is coming to the Rogue Valley Mall.

If all of this is not enough, Medford, faced with the prospect of running-out of buildable land in the near future, is seeking approval from the state to add another 1,650 acres to its urban growth boundary to help accommodate 15,000 new homes and enough land for commercial development. City officials are trying to figure-out how much land they need to handle anticipated growth over the next 20 years as the population increases from 76,000 to a projected 115,000, more than a 50% increase.

Vineyards and Wineries

There are currently 47 wineries listed on the Southern Oregon Winery Association’s website with more slated to open in Jacksonville, Ashland and the Applegate Valley.

We’re all enjoying a wave of new winery openings such as DANCIN, Kriselle Cellars, 2 Hawk, Red Lily and Bella Fiore, and the wine industry seems to just be getting started. Pallet Wine, who makes wine for over 20 clients including Harry & David, Irvine Vineyards and Grizzly Peak, is expanding by 10,000 square feet to handle growth as vineyards pop-up all over Southern Oregon. You don’t have to drive far to see the hundreds and hundreds of acres of new grapes being planted on Carpenter Hill, North Applegate Road and at DANCIN off of South Stage.

So next time you’re driving around, try counting all of the new homes being built, and if you’re lucky enough to be driving through the countryside, take notice of those growing vineyard acres, as well!