18821 SE Richey Road, Gresham, OR 97080
The Sunset Village is a planned development for 339 lots consisting of both detached and attached homes located near good schools and established communities and parks just outside of downtown Portland. The property is in a growing market of Portland with strong wage growth, low land supply and median home price growth. The development will have multiple lot sizes offering flexibility and affordability, giving prospective homeowners plenty of options all with open green spaces and park trails nearby.
The surveyed area is 62.50 acres, of which the Phase I Pleasant Valley Master Plan has allocated 35.0 acres to Low Density Residential (LDR), 17.8 acres to Medium Density Residential (MDR), 4.7 acres to an Environmentally Sensitive Riparian Corridor and 4 acres to commercial development which will be retained by the seller.
The net developable area of the subject property is approximately 52.8 acres. Sewer and water infrastructure have not yet been extended to the site; however, electricity, telephone and natural gas services are available at the corners of the project.
We are currently under construction on Phase 1. We are under contract with LGI Homes with the first closing set to take place in January 2021 and the second to take place in June 2021. Negotiations for the remaining unfinished lots just wrapped up and we are currently under contract.