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Kennedy Wilson-Led JV Acquires 21-Acre Development Site in Bend, Oregon.

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MANews-(C)2009-2022

US-based real estate investment company Kennedy Wilson (NYSE: KW) has entered into a joint venture with Matt Day, owner of Bend-based Hooker Creek Companies, to acquire and develop a vacant 21-acre site in the heart of Bend, Oregon, the firm said.

Acquired on December 31, 2021, the joint venture plans to develop the site into a master-planned community that will likely include a mix of apartments, affordable senior housing, for-sale homes, office space, a boutique hotel, and retail space.

The project is envisioned to create a residential and commercial hub that will feature open space accessible to the wider community in central Bend.

The site is located in Bend, immediately south of Downtown Bend, just east of the Deschutes River and adjacent to the city's Old Mill District.

Located in central Oregon on the eastern edge of the Willamette National Forest, Bend is among the fastest growing midsize cities in the US. Population growth in Bend has outpaced the rest of the state, with strong job growth over the last decade as Bend has become an economic center of Central Oregon.

The proposed development will align with the goals and objectives laid out in the Core Area Plan adopted in 2020 by the city of Bend to address four of the city's nine opportunity areas - areas suitable for new growth as identified in the Comprehensive Plan.

The long-term plan is focused on creating a connected community and integrating emerging mixed-use districts with more established areas of the city.

Plans for the 21-acre development will reflect the guiding themes of the Core Area Plan, providing a vibrant, connected and walkable community that preserves the character of the neighborhood and incorporates sustainable...

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