Price chopped for stalled Central Oregon resort

Print
Email
|

Associated Press

Posted on December 3, 2012 at 2:02 PM

BEND, Ore. (AP) — A planned Central Oregon resort that went bankrupt two years ago is back on the market at a reduced price.

The 2,000-acre Remington Ranch property is being listed for $5 million, down from $8 million earlier this year.

Broker James Dignan told The Bulletin newspaper (http://is.gd/rDPbtB ) in an email that several parties have expressed interest, but no offers have been made.

A buyer would represent a major turnaround for a development plan that crashed toward the end of the housing mania.

Project manager Chris Pippin proposed the resort in 2006, with plans calling for 800 homes, 400 overnight lodging units and three golf courses. Pippin never secured full financing, and filed Chapter 11 bankruptcy.

The proposal came amid a frenzy of resort building activity across Central Oregon in the mid-2000s.

___

Information from: The Bulletin, http://www.bendbulletin.com

Print
Email
|