East Meldrum Street, Government Camp, ORClackamas County

PUBLISHED RESERVE: $1,700,000

LAST ASKING: $1,870,000

SIZE: 3.1± Acres

ELEVATION: 3,800± Feet

ZONING: Rural Tourist Community - RTC

PROPERTY INSPECTION: At Any Time

FINANCING: May be available to qualified buyers. See Supplemental Information Package for Credit Application.

DESCRIPTION: This 3.1± acre development site along East Government Camp Loop is one of the largest properties available for a resort mixed-use development in the village of Government Camp at Mt. Hood. The Rural Tourist Community zoning will allow hotel/motel, resort accommodations, including condominiums, retail and commercial uses. The property has been proposed for a 53-unit resort condominium known as Klahowya Lodge and has been planned in two phases. The first phase of 28 units was approved by Clackamas County and would have been Government Camp's first "green” project. The design approval expired in January 2009 and new development standards apply. (See Supplemental Information Package for copy of prior design approval.) The proposed Klahowya Lodge had been designed with two levels of underground parking and access from Meldrum Street. The non-contiguous block of land containing 1.93± acres between E. Steel Street and Highway 26 contains some wetlands and was not proposed for development.

The village of Government Camp has undergone significant revitalization and growth as Mt Hood's gateway to a four-season resort market with proximity to three ski resorts, one of which is North America's only summer ski training camp, at Timberline Lodge's Palmer Snow Field. Almost 300 new condominiums and hotel/condo units have been developed during the last ten years at Collins Lake Resort, Grand Lodges at Mount Hood, The Lodge at Government Camp, and Tamarack Lodge. Unit sales have ranged from $200,000 to over $600,000.

A 1.55± acre site located along East Government Loop Road is ready for development. The balance of the property, located along E. Steele, is unimproved and consists of 1.93± acres. A portion of this site has wetland per a report prepared in 2001, and may impact future development. The Supplemental Information Package contains a copy of the Urban Renewal Plan, zoning ordinance, Phase I and II Environmental Site Assessment, Geotechnical Study, and Design Review Approval for the proposed Klahowya Lodge development that expired in 2009.

Clackamas County's Government Camp Village Urban Renewal Project has resulted in improved streets, lighting, and other infrastructure with an additional $750,000 targeted for Meldrum Street, which adjoins the site, once the new owner develops plans for the project. All public utilities are available to the site, with adequate capacity in both the water and sewer system.