Instrinsic Homes LLC bought the expansive 100-foot by 100-foot property at 811 NE 92nd Avenue a year ago. The new owners split the land into three parcels, selling the corner house to new residents and selling the undeveloped lots to Dez Development. Soon nine townhomes will surround the existing 1925-era home, creating a total of ten residences out of land previously used for just one single-family-dwelling.
Splitting the lot and reselling the separate parcels netted Instrinsic Homes around $250,000 and created two new development opportunities. The 4,455-square-foot property accessed from NE Oregon Street will contain six residences. The smaller 2,103 square-foot undeveloped lot fronted on NE 92nd Avenue will support three townhouses. Each of those Townhouse units split living space across two floors. The developer has not proposed onsite parking for these projects.
This site redevelopment will preserve the nearly 100-year-old home while substantially increasing available housing. Although this will be one of the most efficient redevelopments in Montavilla, it is two units less than the eleven-townhouse development planned at 2321 SE 89th Avenue or the Twelve Townhouses nearly completed on SE 86th Avenue. The SE 89th project will also preserve the original home, but the SE 86th development razed the existing structures. Expect construction to start on NE 92nd Avenue in the next six to eighteen months, and anticipate many new neighbors within this area by 2024.
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