Lewis and Clark College sells Newburg property to residential

Lewis and Clark College has sold 59.5 acres of land to Pacific Lifestyle Homes Inc. of Vancouver, Wash., for $6.8 million.

The land is located adjacent to the Newberg city limits, near the Kaiser Permanente hospital project south of state Highway 99W on Rex Hill Road.

The college and co-trustee Roger Schaad put the property on the market in 2004.

The land was placed in trust in 2002. Originally zoned for agricultural purposes, the land is expected to be included in the next round of urban growth boundary annexations for the city.

Over a year ago, we began discussions with the city of Newberg's ad hoc Futures Planning Committee as to why the property fit within Newberg's future expansion plans, said Bill Burton of Cushman and Wakefield, the broker for the transaction. With the potential for rezoning the property as single-family residential, we were able to achieve a greater return for the seller.

The land is on the recommendation list for inclusion in the urban growth boundary. Pacific Lifestyle Homes expects to take the land into city limits within a year. The company expects to begin construction on a new residential development within two years. The land is contiguous to the Newberg city limits and to a newly developed residential neighborhood and the Chehalem Glenn Golf Course.

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