Development moves forward under same owner

by: HOLLY M. GILL - The developers of Jefferson Square, on U.S. Highway 97, on the south end of Madras, have sold the parcel on which the KFC/A&W sits, but are moving forward with further development. So far, Jefferson Square includes Madras Cinema 5, KFC/A&W and O'Reilly Auto Parts.After the sale of the building housing the KFC/A&W, the owners of Jefferson Square, on U.S. Highway 97, on the south end of Madras, are moving forward with additional development plans.

According to the Jefferson County Assessor's Office, Scott and Lee Goodrich, of Bend, the owners of Jefferson Square Properties, sold the .47-acre parcel on the northwest corner of the development to Graham Real Estate Two, of Tacoma, Wash., in August, for $920,000.

Vickee and Greg Schons, who own and operate the KFC/A&W, have maintained ownership of the franchise.

The Goodriches and their business, L. Scott Goodrich Construction, purchased the nearly 4-acre property in 2006, and began developing it. The property has since been subdivided and is now home to the KFC/A&W, Madras Cinema 5, and O'Reilly Auto Parts, all of which are no longer owned by the Goodriches.

With two parcels totaling 1.86 acres remaining under their ownership, Scott Goodrich said that he intends to begin development on the largest parcel.

"We think we're going to start construction around the first of the year," he said, noting that he is not yet able to discuss details about the project, which will bring family-wage jobs. "It will be a professional building."

"I've signed the deal," said Goodrich. "We're working through the final construction plans and financing."

Progress on the development slowed, but didn't stop when the recession struck in 2008. "It's been a tough five years," he said. "We've been hit hard, but we didn't get hit as hard as some areas did."

When the last two portions of the development are complete, he said, they intend to maintain some ownership in the community.

"We still like Madras," he said. "Madras has invested in itself, and it's still progressive enough and attractive enough. We're still in a good position there."

The businesses located in Jefferson Square are "doing quite well," he said. "Everybody would like to see the economy do better, but the theater is a little ahead of projections."

Contract Publishing

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