A construction firm that has built major apartment complexes in Keizer in recent years is now considering turning acreage at the entrance of Keizer Station into a retail development.
The developers are considering a project on 4.6 acres of city-owned land on the north side of Northeast Lockhaven Drive and west of Keizer Station Boulevard. The bare land is across the road from the Keizer Transit Station.
The Keizer City Council recently agreed to a letter of intent that set the price for the property at $4.6 million.
The letter was issued by Terra Firma Property Development, which is backed by Clutch Industries of Salem. The firm is represented by A.J. Nash of Tradition Real Estate Partners.
Nash said the developers weren’t ready to disclose details of the project until they complete their due diligence. The city gave the firm six months to do that work.
According to the letter to the city, the project would involve space for “food trucks, food hall and micro retail” with “premium brand lodging” also possible.
Adam Brown, Keizer city manager, said the price was established through an appraisal. If the sale goes through, $935,000 would be put into the city’s street fund and the rest would be used to pay down the city’s retirement obligation to PERS. He said the buyer would pay any real estate commission.
The city has owned the property since 1992, and its future use is mapped out in earlier planning done for Keizer Station. The developers would have to go through a master planning with the city if the project moves ahead.
Clutch Industries, a family-owned company, built Pleasant View Apartments, which opened in 2019. In 2020, the company finished the Sonic River Apartments, which it described on its website as the firm’s “inaugural venture into the mixed-use development sphere. This project was designed to harmoniously integrate residential living with commercial functionality.”
Last year, the company built the 128-unit Verda Crossing Apartments on Northeast Verda Lane. The complex overlooks Claggett Creek Park and was built on what was once a dairy.
“We specialize in innovative development projects, transforming communities with forward-thinking designs and solutions,” the company website said. “With a keen eye for emerging markets and strategic partnerships, we drive successful real estate developments that maximize value and potential.”
Contact Editor Les Zaitz: [email protected]
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