An American development partnership has slashed prices for homes plots in a unique scheme being built in Oregon.
Madras Land Development Company is behind Yarrow, a master plan community, and revealed the wave of discounts on plots set aside for new homes.
Some individual real estate spots are now available at less than $20,000, and other available spaces in the development have been doubled in size after buyer feedback.
Kathy Duman, real estate broker with Yarrow Realty, said: “We have gone back to the drawing board and dramatically increased many of our lot sizes in phase one of Yarrow.
“We are confident this is the best central Oregon real estate value available right now.”
Yarrow is on 900 acres on the east side of Madras, and when complete will be a series of new neighbourhoods designed to complement the existing town. When finished the community will feature about 1,700 single-family homes and 200 ‘multi family’ units. Homes are on sale off plan for phase one in a variety of housing sizes and designs, and there will also be a retail centre and public golf course.
The whole scheme was first thought out by Madras resident and planner Doug Macy, and is expected to take around 15 years in total to finish. Homes start at $239,000 each and ‘homesites’, essentially small pieces of reserved real estate, are also up for grabs.
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