NorthWest Crossing thrives in downturn

NorthWest Crossing, a traditional neighborhood development in Bend, Oregon, has found a way to increase its sales despite the sharp drop in real estate activity nationwide. General Manager David Ford says that for several years, developer West Bend Property Company sold residential lots solely to NorthWest Crossing Guild builders. Transactions started slowing down in 2006, when 38 single-family lots were sold. They hit their low point in 2007 when 18 sales took place. The company responded by opening lot sales to the public. Since the change of policy, transactions have risen. “We incentivize these buyers to work with one of our Guild builders by offering a rebate on the lot purchase price,” Ford notes. By the beginning of December, 21 single-family lots had been sold in 2008, he says, and “We are projecting to sell 24 single-family lots in 2009, with increased sales volume starting in 2010.”