PROJECTS

MALLER RIDGE
BANKS

04.16.2019

Date:

Construction

Status:

Single family housing

Project Type:

EXECUTIVE SUMMARY

Maller Ridge is a rare find just outside the Metro area.  Rural, yet connected.  It offers large, custom home lots with privacy and views.  Comprised of 66.27 acres just outside of Banks, Oregon in unincorporated Washington County the property is zoned AF-10 (Agriculture & Forestry District - Min 10 Acres), which permits development of Single-Family residences. There are 13 executive lots ranging from 2.45 acres to 4.01 acres to the East (averaging 3.20 gross acres) and lot 13 to the West is 27.69 acres. These lot sizes are the perfect size for executive housing on private wells. Lot sales are open to custom home builders and lot buyers.  Stafford Development has started road and infrastructure construction.  Finished lots will have storm, power, and telephone services.  Download Executive Summary packet:


This project is planned to be complete early Summer 2019.
For lot sales & purchase information, please contact
New Home Realty

Community infrastructure includes powered gated entry with monument, paved roadway access and will have power, phone, and data lines extended to each home site. Topography is rolling with some view opportunities of coastal range hills and the Tualatin Valley. The sub-market location is the outer Sunset Corridor, just off of Highway 26

• Easily accessible from Hillsboro, Beaverton, and Portland (only minutes away from the regions top employers)

• Very strong Portland metro residential real estate climate

• Project amenities are above-average in comparison to single acre home sites available in the sub-market.

• Limited existing or proposed competition

• Subdivision of executive sized lots is difficult to find

 

COMMUNITY SNAPSHOT

The Banks area saw an unprecedented run-up of pricing and demand in the early 2000s. When the national recession hit in 2008, the area was hit hard like much of the Portland Metro; in addition to heavy lot/land speculation. Beginning in 2012, the area saw a resurgence in home pricing and demand. Appreciation rates in the Outer Sunset Corridor sub-market reflect the high resurgent demand. The various areas covered by RMLS are broken down in the following table. Area 152 has seen a 9.9% average price increase in the prior year.

Outer Sunset Corridor is an area made up nearly entirely of acreage home sites with the majority of the land zoned for over one acre per unit (and much in AF-10 & 20 – 10 & 20 acre minimums and EFU – 80 acre minimum). As such, average home prices are well north of $400,000 and exceed $1,000,000 in many cases.

 

CONTACT US FOR MORE INFORMATION ON THIS PROJECT

STAFFORD LAND COMPANY

8840 SW Holly Lane · Wilsonville OR · 97070

503·305·7647

© 2019 Stafford Land Company · Stafford Homes + Land · CCB204299