Chuck Overton/Windermere Realty
GEARHART — One of the last large parcels of land in Gearhart could be converted into a subdivision.
The 29.5-acre project on McCormick Gardens Road will go before the Planning Commission on Thursday for a zone change from rural agricultural to medium density residential, which would include single-family and multifamily homes.
Because of wetlands and a freshwater lake, Windermere real estate broker Chuck Overton, who is representing the property owners, said he anticipates between 4 and 7 acres will be buildable pending rezoning approval, with a potential of 25 to 40 lots.
Homes could sell in the $300,000 range. “We’re not trying to build $800,000 homes,” Overton said. “We’re trying to fill a need.”
The site is the former Palmberg Paving Co. The owners have put the property up for sale for $2.5 million.
The project could be an opportunity to bring affordable housing to Gearhart, Overton said, although the pricing would be up to the developers. “The big demand is the $350,000 price range and down,” he said.
With wetlands, soil, geologic and traffic studies complete, if the property is rezoned, the developer could come right in and build, he added. “It’s a perfect scenario. The demand is really high. If we can get somebody to come down here and build this out, it’s going to be a success.”