Bend, Oregon, has recently emerged as a bustling city, gaining attention as one of the fastest-growing in the nation. Despite some investors expressing hesitancy due to its “blue state” status and the impact of COVID-related laws on landlords, Cornerstone Commercial Investments sees hidden opportunities that make Bend a prime location for savvy investors.
Consider a few facts about Bend, Oregon:
- Bend is often voted high in lists of best places to live in the US
- Bend is the 7th fastest-growing city in the US
- Our assets in Bend rank among the most lucrative and best-performing investments in our entire portfolio.
In this article, we’ll delve into why investing in multi-family projects, particularly in Bend, can be lucrative, especially given the city’s unique dynamics.
Bend: A Zoom Town and Remote Worker’s Paradise:
Bend’s rapid growth is closely tied to its designation as a “Zoom town.” As the #1 town for remote workers, Bend attracts a significant influx of millennials and Gen Z professionals. These individuals prioritize lifestyle over traditional suburban living, making Bend’s vibrant downtown and outdoor amenities highly appealing.
Remote workers are attracted to Bend due to their prioritization of lifestyle over the conventional allure of large suburban homes. The city’s appeal lies in offering some of the nation’s finest living amenities. Bend boasts a lively downtown area that magnetizes both food enthusiasts and outdoor adventurers alike.
Lifestyle and Budgetary Considerations:
The demographic moving to Bend seeks an enhanced quality of life. The city’s thriving downtown and outdoor activities cater to foodies and adventure enthusiasts alike. However, this creates problems that we regard as opportunities.
The rising cost of housing, with a median home price surpassing $800,000, highlights the need for affordable living spaces as the town grows. Multi-family projects fill this gap, providing budget-friendly options close to amenities.
The Economic Landscape:
Cornerstone Commercial Investments recognizes Bend as a lucrative hub for multi-family projects spurred by a convergence of inflation and economic depression. A growing demand for affordable housing, notably from millennials and Gen Z, intensifies as Bend experiences an influx of residents. In addition to those factors, urban growth boundaries compound the necessity for in-town housing; thus, the demand for multifamily housing is higher than ever.
Infill Projects: A Strategic Investment:
Bend’s urban growth boundaries restrict land annexation, making infill projects strategically valuable. Investors focusing on multi-family projects capitalize on this limitation, offering housing options to the growing population of remote workers. The demand for such properties remains high, ensuring a steady stream of tenants.
Bend, Oregon, is not just a city; it’s an investment opportunity waiting to be seized. Investors who navigate the nuances of this market stand to reap significant rewards. At Cornerstone Commercial Investments, we thrive on uncovering hidden gems, and Bend is undoubtedly one of our brightest. For more information, visit our website or contact us today.