UPDATE: 0 Michigan Ave, Coos Bay, OR 97420 remains on the market for going on 606 days as of the date of this update, according to Zillow, where approximately 477 people viewed this listing and 11 have saved it. Sounds like quite a unique dream property, suitable for roughly 2.30607966% of those who manage to discover this listing.
FOR IMMEDIATE RELEASE
Exceptional Waterfront Acreage and Strategic Investment Opportunity Just Minutes from Oregon’s International Port of Coos Bay
Coos Bay, Oregon – August 12th, 2023
An extraordinary investment proposition has emerged on the horizon of Coos Bay, Oregon—a remarkable waterfront property spanning approximately 28 acres, strategically positioned a mere 12 minutes away from the existing Oregon International Port of Coos Bay. With a history marked by pivotal shifts and progressive development, this property presents a golden opportunity for visionary investors seeking to shape the region’s future.
A Prudent Investment at an Opportune Time: The property, located at 0 Michigan Ave, Coos Bay, OR 97420, has undergone a significant price adjustment, reflecting its exceptional potential and strategic significance. With a listing price now at $499,950—42.9% lower than its previous listing—it signals a prime opportunity for forward-thinking investors to participate in Coos Bay’s transformative journey.
A Nexus of Progress: As the Port of Coos Bay stands as the singular shipping facility between San Francisco and Portland, the city’s strategic importance in national commerce is undeniable. Efforts are underway to propel Coos Bay’s significance to new heights through the establishment of the Pacific Coast Intermodal Port—a visionary initiative aimed at expanding capacity and facilitating freight movement through diverse modes of transportation.
Catalyzing Economic Growth: Situated within the Coos Bay-North Bend area, home to approximately 32,000 residents and sprawling industrial zones, this property’s proximity to the port and its transformational expansion plan amplifies its value. Through a dynamic public-private collaboration between the port and NorthPoint Development, a groundbreaking $1.8 billion intermodal facility is poised to emerge—a nexus where rail, maritime, and commerce converge.
Navigating a Course to Prosperity: Margaret Barber, Director of External Affairs and Business Development for the Port of Coos Bay, affirms the port’s steadfast commitment to facilitating economic growth. The Coos Bay rail line, a pivotal asset controlled by the port, is poised for a significant upgrade pending approval for a $700 million grant from the U.S. Transportation Department’s Mega Grant program.
Envisioning a Greener Future: Innovations to the Coos Bay Rail Line include the expansion of tunnel heights to accommodate double-stack container traffic—a monumental stride towards enhancing the port’s capacity. Margaret Barber emphasizes that rail transport is not only more environmentally friendly than road transport, reducing greenhouse gas emissions by 75%, but also encompasses the potential to revolutionize the export of agricultural products and goods.
Legislative Support for Transformation: Congresswoman Val Hoyle, an influential advocate for the Port of Coos Bay’s expansion, has dedicated her efforts to secure essential funding and support. With plans to deepen and widen the port’s channel to facilitate larger container ships, Congresswoman Hoyle envisions a reduction in supply chain congestion and the creation of around 9,000 jobs across multiple counties.
A Beacon for Diverse Industries: The port’s growth vision resonates with stakeholders across industries. Lori Steele, Executive Director of the West Coast Seafood Processors Association, highlights the pivotal role the Port of Coos Bay plays as an international shipping terminal, catering to the seafood industry’s growth and development.
Navigating Harmonious Progress: Amidst the forward momentum, Coos Bay’s potential for wind turbine developments draws both support and apprehension. While environmental concerns are prevalent, advocates of the port expansion remain committed to finding solutions that balance economic growth, green energy, and ecological preservation.
A Confluence of Prosperity: As the region’s fortunes intersect, the Pacific Coast Intermodal Port beckons as an engine of growth, heralding 3,500 construction jobs and a dynamic transportation network that envisions 12 trains daily between Coos Bay and Eugene.
For inquiries, detailed insights, or to seize the unparalleled potential of this 28-acre waterfront property neighboring the Oregon International Port of Coos Bay, kindly contact your real estate agent.
