Eugene's Churchill subdivision starts fourth phase of construction, secures funds for fifth
A new subdivision in Eugene's Churchill neighborhood has begun its fourth phase of construction and secured funding for its fifth phase.
Max Benjamin Partners said it secured a $33.9 million loan to continue constructing the Timberline Hills subdivision of single family homes in the southwest corner of Eugene.
The first 81 homes are expected to go up for sale sometime between October 2024 and January 2025.
They will be priced between $800,000 and $1.2 million. According Realtor.com data, the median listing price in Lane County in August was $525,000, meaning half the homes sold below $525,000 and half sold above that.
The subdivision began permitting work in 2006, and construction has been undertaken in five phases.
Phase four will add 31 houses along Tanner Park Drive and the adjoining roads.
Phase five will extend the east end of Bentley Avenue across to Timberline Drive and add 30 houses along the way. And it will add roads and 67 houses to fill out the southeast portion of Timberline Drive.
Max Benjamin is a Beverly Hills-based real estate bank that has funded developments around the country and acquired others. Timberline Hills is its first construction project in Oregon.
In Eugene, it acquired the Ducks Village student housing complex in February.
Alan Torres covers local government for the Register-Guard. He can be reached over email at atorres@registerguard.com or on Twitter @alanfryetorres
This article originally appeared on Register-Guard: Timberline Hills subdivision in Eugene secures new funding
