COCC Board Real Estate Committee Meeting Agenda April 2026
COCC reviews options for Neighborly Ventures ground lease
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Description
Neighborly Ventures continues its due diligence on the 69-unit Ponderosa multifamily project on COCC land under an existing ground lease structure, with a term running through February 2027. COCC and William Smith Properties reviewed multiple contingency options in light of a soft apartment market and investor uncertainty.
Contract Details
Vendor
NEIGHBORLY VENTURES
Agency
Central Oregon Community College, OR
Contract Type
FACILITIES
Document Date
April 27, 2026
Contract Term
Due diligence period through February 2027
Renewal Date
2027-02-28
Renewal Info
Neighborly Ventures previously requested an additional one-year extension of due diligence beyond February 2026; current agenda materials indicate the due diligence period now runs through February 2027, effectively extending the ground lease due diligence term.
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