State panel OKs OSU-Cascades campus purchase

Closing seen on one SW Bend parcel in October, other in March

By KTVZ.COM news sources
POSTED: 10:21 PM PDT September 20, 2013    UPDATED: 9:45 PM PDT September 21, 2013 
BEND, Ore. -

The Finance & Administration Committee of the Oregon State Board of Higher Education on Friday approved Oregon State University – Cascades’ purchase of two real estate properties comprising 56 acres in southwest Bend, paving the way for a physical campus for the branch campus. 

Sales of the purchases, totaling about $13 million, will close following a due diligence period on each.

The closing on the 10-acre parcel currently owned by Cascades Property Holdings, LLC is anticipated in October.  The closing on the 46-acre property, owned by  4-R Equipment, LLC is anticipated in March.

The extended due diligence period for the larger parcel, part of which contains a pumice mine and the balance of which is zoned for residential use, allows the university and seller to fully develop and assess a remediation plan.

University leaders are working with the city of Bend and the Campus Expansion Advisory Committee to outline a master planning process and engage stakeholders from throughout the community in order to develop a university campus that aligns with the educational, economic and cultural needs of the region.

The branch campus plans to expand to a four-year university, welcoming its first freshmen and sophomores in fall 2015.