One of the biggest resort failures in Oregon as a result of the Great Recession is Remington Ranch. The 2,000+ acre, partially developed resort, is back on the market at the drastically reduced price of $5 million.
The original developers had planned for and secured permission to build three golf courses, 800 homes and 400 guest units. They only managed to construct 9 holes of one course before filing for bankruptcy in 2010. At this point it is unclear what, if any, other infrastructure is in place to support resort operations.
Remington Ranch will be liquidated through U.S. Bankruptcy Court as a short sale. The listing agent told Portland Business Journal that marketing efforts were ramping up in November but I couldn’t find a listing so maybe they aren’t quite as close to getting the property on the market as they had hoped. However, if you would like more information about this property or other resort properties for sale in Central Oregon please call Becky Seim at (541) 508-2930.
Listing information courtesy of Jim Dignan and Bridge Investment Group, Denver, CO.