LOTS of Potential In the Heart of Newport
What would you do with three contiguous lots in the downtown Nye Beach, Newport? You can let your imagination soar because the possibilities are extensive with this property. That’s because 654 NW Coast is a mixed zoned property; it can be used for commercial or residential, or a combination of both! And, in a town that is growing by leaps and bounds, it’s nice to have options.
Nye Beach lies in the heart of Newport and is a prime location because of its close proximity to the ocean and lighthouse view. There are over 40 businesses within walking distance of this property. The beach’s stunning sunsets are a popular destination for tourist and locals alike. The area has a unique feel with its brick roads and historic charm. Besides having some of Newport’s best restaurants and shops, the Visual Arts Center and Performing Arts Center are close by.
In an already low property inventory area, announcements of business expansions are a regular news feature these days. Oregon State University (OSU) broke ground this year on a $58 million building that would bring around 500 full-time students and around 25 new professors to the area. Our local hospital, Samaritan Pacific Communities Health, is undergoing a $57 million expansion and increasing its size to 126,000 square feet. OSU was also awarded $35 million from the Department of Energy to test wave energy off Newport’s shores. Cutting edge technology that could help alleviate energy concerns and it starts here, in Newport. As these expansions brings jobs to the area, their employees struggle to find housing.
They have “built it” and people are coming. You have an opportunity to be part of Newport’s growing city. What will you build?