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Project reflects developer's faith in housing market

40 homes under construction on West Union Road


by: TIMES PHOTO: JONATHAN HOUSE - Construction workers put finishing touches on newly built homes in the Bronson Creek Farms development taking shape off West Union Road in Bethany. Even in the best of times and the most ideal circumstances, taking on a new housing development is a risky proposition. When the location offers too many positives to ignore, however, a fear of financial risk can transform into a more confident sense of investment in the future.

That’s how Peter Noyes, president and chief executive officer of Noyes Development Co., sees the development of Bronson Creek Farms, located on a sloping site off West Union Road, east of Bethany Boulevard. Construction is well under way on what will become a subdivision of 40 homes.

Although the housing market has been mired in uncertainty for several years, Noyes said the location and timing feels right for the Beaverton company, which celebrates 20 years of business on March 23.

“It’s one of the closest developments in new construction in proximity to Highway 26, Intel, Nike, and the school district is fantastic,” he said of the 14-acre Bronson Creek Farms development. “All the pieces tumbled together in the right fashion.”

Headquartered at 16305 N.W. Bethany Court, suite 101, near the intersection of Cornell Road, Noyes Development has weathered all manner of fluctuations in the housing market and local and national economic climates.

“We’ve been here awhile,” said Noyes, 50, who lives within a mile of the Bronson Creek development site and has been in the area since childhood. “We’re happy to have survived.”by: TIMES PHOTO: JONATHAN HOUSE - Workers affix shingles to the roof of a new home in the Bronson Creek development in Bethany.

Solid foundation

The full-steam ahead level of activity at Bronson Creek Farms is indicative of the local, family-owned company’s perseverance and long-term outlook. In addition to Noyes’ six employees, there are more than 30 subcontractors involved with the development, for a total workforce of “well over 100,” Noyes said. “It’s exciting. Each house has three to five guys working on it on any individual day.”

About 12 of the nearly 40 of the 2,454- to 4,800-square-foot houses are under roof on their way to spring and summer completion. Most of the houses, priced between $400,000 and $600,000, have sold or are under contract. Amenities of the four- and five-bedroom houses include higher-end features such as hardwood floors, slab-granite counters, high ceilings, open handrails and double ovens.

The development’s total planned inventory includes a 6,000-square-foot estate house, dating from the 1990s, which is being renovated in line with the Earth Advantage Institute’s “platinum” energy saving certification of the houses being constructed. The Portland-based institute advocates sustainability-minded construction, with an emphasis on materials and practices that promote energy efficiency, occupant health, durability, and water and resource conservation.

The agency recognized Noyes Development as its “New Earth Advantage Builder of the Year” for 2012.

“Our homes are performing 30 percent to 40 percent more energy efficient than a new home of the same size built to code,” said Mike Frey, construction manager with Noyes Development. “This means monthly gas and electric bills are about one-third the cost of the others.”by: TIMES PHOTO: JONATHAN HOUSE - Construction workers install the roof to a new home in the Bronson Creek development.

Shifting market

Megan Talalemotu, director of sales and marketing for the Crandall Group real estate company, says many prospective buyers are those with ties to nearby companies such as Nike and Intel looking to “upgrade to something new.”

The past year has shown promise in the real estate market that was considerably harder to come by four or five years earlier.

“We were doing everything to set ourselves apart,” she said. “Anything you needed to make a deal for the buyer. There are more stable trends now. Sellers are able to sell (houses) more quickly without giving too many concessions.”

Ben Droukas, vice president of sales and marketing for Hillsboro-based Craig Reger Group Realtors, said Bronson Creek Farms is a case of the right kind of development at the right time.

“It’s quite unique,” he said of the location. “There hasn’t been a lot of development out there. The fact that Peter (Noyes) was able to get that piece and utilize as many home sites as he has in that area is commendable. He’s definitely filling a need.”

On time

In addition to Bronson Creek Farms, Noyes says his company also has a 16-lot subdivision pending for houses in a “slightly lower price range” in the Bonny Slope neighborhood set to break ground this summer. He’s confident that once the houses at Bronson Creek Farms are completed by the summer and fall, the development will set a precedent for housing trends in Washington County.

“We felt like the timing on this was pretty much spot-on,” he said, noting a “big shortage” of finished lots in the area. “Now is a pretty good time.”

With a drier-than-usual winter and pre-spring weather helping out with construction, Bronson Creek Farms will be well on its way by this summer.

“The first house is set to be ready on April 10, at 1:30 p.m.,” Noyes quipped. “Then we pretty much finish a house a week after that.”




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