New 186-unit apartment project set to begin near COCC in NW Bend

The developer has a ground lease with the college

BEND, Ore. (KTVZ) — The Salem-based neighborhood development begins work Wednesday on the site of Veridian Apartments, a 186-unit development in Northwest Bend. The Veridian is located on the north side of Shevlin Park Road and across Campus Village Way from the Cascade Culinary Institute at Central Oregon Community College.

Here’s the rest of Tuesday’s press release from the developer:

The site comprises 9.46 developed acres as well as a reserve area of ​​0.75 acres, which will maintain additional open space on the site. The Veridian will consist of 19 three-story buildings with a mix of 1, 2 and 3 bedroom apartments. The site will include on-site amenities for resident use, including a clubhouse, pool, hot tub, sheds, dog park, outdoor open space, and multi-use trails throughout the site.

Neighborly Development is a Salem-based company that specializes in multi-family developments in Oregon, Washington and Utah. The Veridian project site is leased to COCC under a long-term ground lease, and Neighborly Development is excited to bring The Veridian to Bend working with the college.

“The ground lease arrangement between COCC and Neighborly Development provides the college with a reliable, inflation-resistant source of revenue that helps us fulfill our mission,” said Dr. Laurie Chesley, President of COCC. “These revenues help the COCC continue to promote student success and community enrichment by providing quality, accessible, lifelong educational opportunities. The COCC Board of Directors and its Real Estate Committee have worked tirelessly with William Smith Properties and Neighborly Development to ensure that The Veridian Apartments project will support community and college priorities. We look forward to welcoming new residents to the neighborhood in the years to come. »

The Veridian is a market rate project and was designed to be a high quality development that both complements the design of the COCC’s Cascade Culinary Institute and integrates well into the nearby community.

The project will include 348 parking spaces, exceeding the number of parking spaces required by the City of Bend by more than 26%. The project will also preserve 89 mature trees and plant an additional 220 trees to replace those that need to be removed during development. All trees removed during project construction will be reused for educational and community needs, including wood for COCC maintenance projects and the college forestry program, as well as firewood donated to local families in need .

“Working with the community on this project has been great,” said Richard Berger, Development Manager for Local Development. “The willingness of the Bend community to engage with us during the development process made this project possible.”

The Veridian will be managed by Neighborly Ventures, a subsidiary of Neighborly Development. Leases for the project are expected to be available in fall 2023.

For any questions or concerns related to the project, please visit the website www.theveridianbend.com