Investment Real Estate • www. hfore.com • (503) 241.5541
TARALON APARTMENTS4.46 ACRE PARCEL
SE Taralon Drive & SE 162nd AvenueHappy Valley, Oregon
TARALON
Taralon Community Center
1TARALON • 25.7 UNITS/ACRE • HAPPY VALLEY, OR
The Taralon Apartments Land (4.46 acres) is part of the 97-acre Taralon Master Planned Development (MPD) and benefits from an exceptional location in the city of Happy Valley. The land surrounds the Taralon MPD’s clubhouse and has services to site. There is a proposed development that is approved by the City of Happy Valley for 132 apartments between 3 buildings.
Established in 2010, the Taralon MPD is primarily single-family residences with a central clubhouse that features a gym and seasonal pool. The Taralon Apartment Land would be the only multifamily development in this exclusive neighborhood. The 4.46 acres surround the existing clubhouse and pool. The proposed development places the Taralon clubhouse as a center pointe of the apartments. The Taralon Apartment Land is subject to the Taralon Master Plan and a shared use agreement provides for access to the clubhouse and amenities of the community.
Happy Valley is one of the Portland metro area’s newest cities and major employers include Kaiser Permanente’s Sunnyside Medical Center and Xerox. Taralon is less than 3.5 miles from the Kaiser Medical Center and less than 4 miles from Clackamas Town Center which includes connections to the MAX light rail. The neighborhood is part of the North Clackamas School District No. 12, one of the metro area’s stronger school districts. Residents of the Taralon neighborhood attend the following schools:
EXECUTIVE SUMMARYSITE SUMMARYProperty Land parcel located at the intersection
of 157th Avenue and 162nd Avenue, subject to the Taralon Master Plan
City Happy Valley
County Clackamas
Size +/- 4.46 acres / 194,277 Sq Ft
Zoning Happy Valley Mixed Use Residential (MUR-X)
MUR-X Mixed Use Buildings with Residential Emphasis. Residential and retail combinations with the primary use of the building being residential.
Development Standards
Density
Lot Coverage
Landscaping
Setbacks
Building height
25.7 units/acre
18.6%
28.8%
10 ft
53/5 ft
School RatingOregon Trail Elementary School A-Rock Creek Middle School BClackamas High School A-
For More Information
Cody Hagerman • [email protected]
Investment Real Estate 2424 SE 11th AvenuePortland, Oregon 97214
www.hfore.com(503) 241.5541Fax: (503) 241.5548
Brokers licensed in the States of Oregon and Washington.
PricePrice ($) $5,000,000
$ per Acre $1,121,076
$ per Unit * $37,879
$ per Sq Ft $25.74
* Based on proposed development of 132 apartment units.
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LOCATION
TARALON
Clackamas High School
Taralon Community
Center
212
213
224
224
205
205
Mt Talbert National Park
Hood View Park
SE Sunnyside Rd
SE Johnson Rd
SE Jennifer St
SE 172nd Ave
SE 174th Ave
SE 142nd Ave
SE 122nd Ave
SE 192nd Ave
SE 97th Ave
Distribution Center
LOCATION
COLUMBIA RIVER
Portland Downtown
Lake Oswego
Clackamas
Happy ValleyMilwaukie
West Linn
Gresham
205
5
26
213
99E
212
224
Taralon
3TARALON • 25.7 UNITS/ACRE • HAPPY VALLEY, OR
Total # of Units 132
Total # of Buildings 3
Parking 240 spaces132 bike parking
Unit Mix Count1 Bedroom 362 Bedroom 843 Bedroom 12
TARALON APARTMENTSThe following proposed development was reviewed by city staff in 2016, which recommended approval of the site plan as proposed.
A one-year extension was applied for and approved for completion. The new deadline for completion is May 25, 2019. Under the current development code, no additional extensions are available.
PROPOSED DEVELOPMENT
Taralon Community
Center
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A7
PREL
IMIN
ARY
CO
LOR
EDLA
ND
SCAP
EPL
AN
20,34143,891
64,232
81,012
PROPOSED DEVELOPMENT
Property line
5TARALON • 25.7 UNITS/ACRE • HAPPY VALLEY, OR
Taralon
Taralon Community Center
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Taralon
Taralon Community Center
Taralon
Taralon Community Center
Hood View Park
7TARALON • 25.7 UNITS/ACRE • HAPPY VALLEY, OR
Passion • Collaboration • SpecializationThis information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. ©2018 HFO Investment Real Estate LLC.
Build your legacy is a service mark of HFO Investment Real Estate. Licensed in the states of Oregon and Washington.
Investment Real Estate • www. hfore.com • (503) 241.5541
HAPPY VALLEY
RENTSHappy Valley’s rental supply is constrained, making it a competitive apartment market. The city attracts the area’s second-highest number of residents with college degrees. As a result, demand for rental housing will remain strong, and further rent growth is predicted.
EMPLOYERSAmong the area’s major employers are Kaiser Permanente’s Sunnyside Medical Center, which accounts for over 2,400 local jobs, as well as PCC Structural, Clackamas County and Xerox, each employing between 1,000 and 2,000 area residents.
The city of Happy Valley was incorporated in 1965, and is located in Clackamas County. Its population as of July 2017 was 21,196, an increase of approximately 48% since 2010. Happy Valley’s population is more educated on average than all of Clackamas County, with 52.6% of residents holding a Bachelor’s degree or higher. Median household income is $106,197, well above county and national averages. The Oregonian even dubbed Happy Valley the “richest town in Oregon” in 2015 and the wealthiest place in Clackamas County in 2017.
Happy Valley is proud of its small-town feel, and of its schools, small businesses and parks, all of which provide families with an inviting, safe community.
SHOPPING AND ENTERTAINMENTHappy Valley is near the Clackamas Town Center—the area’s largest shopping destination. This 1.3 million square-foot regional mall includes Macy’s, Nordstrom, Sears and JC Penney. Entertainment venues include a 20-screen Century movie theater. Clackamas Town Center offers an additional 180 stores, shops and restaurants.
Another highlight of Happy Valley is the Eagle Landing Golf Course, a beautifully maintained 27-hole Par 3 course located off SE Causey Avenue.
Among Happy Valley’s most popular annual events is its Pickathon which is held on the grounds of Pendarvis Farm and features a wide array of modern popular music acts. Pickathon attracts large crowds, and offers camping facilities for visitors to this three-day music festival.
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