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Capstone Partners is under contract to purchase a 12.5-acre site of a former landfill and has plans to develop a multimillion-dollar retail center. Capstone principal Jeff Sackett says the site comes with “lots of challenges,” but the firm is optimistic. The property sits just south of Siskiyou, across the street from Madison High School, The Oregonian reports.
The property has been sitting empty since its last occupant, a driving range, closed in 2001. Several years ago, a plan to open a big-box shopping center was shot down by neighbors, who feared a Walmart would hurt local businesses. [TO]
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