New tenants stake claim to Motor Sports Building
If all goes to plan with an Estacada Urban Renewal Agency project, Clackamas River Outfitters and a new frozen yogurt shop called Yo Treats will soon occupy the former Estacada Motor Sports Building.
The project is the first under an amendment to the Urban Renewal Agency's plan that allowed for the acquisition and redevelopment of properties in downtown Estacada. The amendment was adopted last October with the goal of spurring development in town.
Both tenants have signed a letter of intent to lease in the Motor Sports building, 192 S.E. Fourth Ave. The city is soliciting bids from contractors for the renovations through Friday, March 16; once a bid is selected, the sale is expected to close later this month.
The sale price for the building is expected to be $170,000, and the redevelopment costs are estimated at $150,000.
Matt Lorenzen, project manager for the Urban Renewal Agency and economic development manager for the city of Estacada, noted that the Urban Renewal Agency will likely hold the building for several years prior to selling to another landlord.
"The rent revenue that we'll get from the tenants will help offset some of the costs of doing the renovation," he said. "We'd like to just give these new tenants stable conditions to get their businesses going."
Clackamas River Outfitters has operated at Promontory Park and Timber Park for the past several years, and Yo Treats would be a new business in Estacada.
Luke Spencer of Clackamas River Outfitters said he's excited about the possibility of having the company's headquarters in downtown Estacada. At the new location, he plans to have a small fleet of rentals available, as well as accessories for sale.
Lorenzen estimated construction on the building's remodel will begin in April and be completed in June. He not-
ed that part of the work will
involve reorienting the building's front facade to Main Street.
"There will be doors instead of just a blank wall on Main Street. I think reorienting the building to Main is a big deal," he said. "(It's) one positive step toward the improvement of Main Street and making more activity there."
He added that the Urban Renewal Agency became involved with the project to create a proof of concept.
"We wanted to show. . .that you could do this and it works, and that if you do have some subsidy through the Urban Renewal grants you can make it pencil," he said. "I'd say that there's a significant potential that there may be a second one of these projects, but I would be thrilled if we did one and we just got tons of interest from people who wanted to do it instead of the Urban Renewal Agency."