In 2005 under then City Manager Andy Anderson, the City of Bend purchased the former Bend Bulletin property at the corner of Olney and Wall Street near downtown Bend.
The city purchased the 3.1 acre property for $4.8 million with plans to build a new city hall there. For the past nine years the site has remained a vacant lot with an Occupy Wall Street group holding a protest there in 2012.
Last week the Bend City Council announced that Getz Properties LLC has offered to purchase the property for $1.9 million. The Council agreed to accept his proposal. Recent challenges in the economy has made it impractical for the City to build a new city hall and although selling the property at a loss may not seem prudent the potential of tax revenue and an attractive development at the site has its merits.
Getz Properties is proposing a mixed-use development that includes housing, retail and office space. The Company is well-known for its successful developments including pioneering the highly successful Forum Shopping Center off Highway 20 in Bend, which boast top name retailers like Safeway, Whole foods, Barnes & Noble and Pier 1 Imports.
Getz Properties has an option on the Wall Street property with a refundable $50,000 earnest money agreement with a time limit of approximately six months. The site zoning allows for a building of 55 feet high or five stories.
