Portland Boys And Girls Clubs To Sell Prime Property In Sellwood

Dated: December 2 2015

Views: 811

The Boys & Girls Clubs of Portland Metro plan to sell a facility that sits on a prime Sellwood property.


The group plans to sell its Sellwood Club facility as it moves programs closer to communities that are home to many of its members. The organization's board approved the move on Monday.


The property sits on a full city block in a growing Portland neighborhood.               The property sits on a full city block in a growing Portland neighborhood.

The site includes a 25,000-square-foot recreation facility and about 4,000 square feet of offices. It's currently zoned for both uses.


The full site, at 7119 S.E. Milwaukie Ave., is valued at $4.5 million.


Many observers believe the property could fetch at least twice its county-assessed value.


“The Moreland area’s increasing popularity means that the demographics are growing more affluent each day. So I wouldn’t be surprised if this property would be priced higher than what public data suggests,” said Craig Gilbert, owner and principal broker of Windermere Community Commercial Realty.


The sale results from a look at "economic needs of the families and communities currently being served by the organization, as well as identifying where children and families are located today within the Metro area who are in most need of services."


The Sellwood-Moreland Boys & Girls Club opened in 1969 while the Milwaukie Avenue location, called the Fred G. Meyer Memorial Boys & Girls Club, opened in 1989.


Erin Hubert, the group's CEO, said officials will work with Sellwood residents "to reconfigure program services in this neighborhood while also putting ourselves in a better position to financially meet growing needs in underserved communities.”


More than 85 percent of those attending Sellwood programs come from other neighborhoods, primarily those in the North Clackamas School District.


The group serves around 6,000 youths in Multnomah, Washington and Clark counties.


At least part of the proceeds from the sale will feed into a maintenance fund that will serve all local Club facilities.


The organization is undergoing several other major changes, including a major project in Gresham's Rockwood neighborhood. It's creating a campus of youth services with the Open School East building with which the group will share a gym and kitchen.


Source

Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

Latest Blog Posts

Fannie Mae Cuts Origination Forecast For 2022

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022

Read More

How Long Does A Home Seller Have To Respond To An Offer

When you make an offer on a house, you might be wondering: How long does it take a home seller to respond to your offer?There’s nothing worse than sitting around waiting—especially when you’re

Read More

Forbearance Numbers Fall As Borrower Exits Remain High

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis

Read More

How Much Does It Cost To Build A House And Is It Cheaper To Buy Or Build

How much does it cost to build a house? The median price of constructing a single-family home is $296,652. That’s for an average-sized house of 2,594 square feet, which boils down to $115 per

Read More