The Bend Municipal Airport serves as a vital economic and infrastructural asset for the state of Oregon. However, recent developments indicate that significant changes are on the horizon, especially for hangar owners and businesses operating on airport grounds. As a trusted real estate brokerage with expertise in aircraft hangars and related properties, Strategic Realty was front and center at a recent community roundtable aimed at discussing these changes.
The Roundtable Meeting
The meeting, organized by Friends of Bend Airport and held October 17th, 2023, was a well-attended affair that sought to gauge interest in the ongoing concerns regarding ground leasing and future policies. All 40 chairs were occupied, signifying the community’s vested interest in the airport’s future. Tracy Williams, the Airport Manager, and Matt Stuart, Real Estate Director, represented the city and provided critical insights into the city’s intentions. A key aspect of the discussion was the city’s need to align with FAA grant assurance requirements.
What Does It Mean for Hangar Owners?
Specifically, there are growing concerns that the city has altered its practice concerning ground lease renewals and extensions for hangars. This has significant implications for current owners and potential investors, as it may limit the term and even the ownership of hangars. These changes come at a time when the airport is planning costly capital improvements, adding another layer of complexity to the issue.
Strategic Realty’s Take
At Strategic Realty, we recognize the profound impact that these policy changes can have on our clients and the community at large. We advocate for a collaborative approach between the city and stakeholders. Our commitment to innovation, integrity, experience, and teamwork motivates us to be actively involved in these discussions, representing the interests of hangar owners and potential investors.
The Way Forward
Friends of Bend Airport has initiated a work group to collaborate with city staff on an upcoming revision of the Airport Regulations, Rules & Policies, scheduled for November. We strongly recommend that affected parties actively participate in these discussions to voice their concerns and contribute their expertise. Keeping abreast of these changes is not just wise but essential for anyone invested in hangar properties at Bend Municipal Airport.
We’re Here to Help
In a rapidly evolving landscape, information and proactive engagement are crucial. Strategic Realty remains committed to providing superior experiences for all stakeholders in the commercial, industrial, and residential markets, including those affected by the developments at Bend Municipal Airport. Stay tuned for more updates as we continue to monitor the situation and actively participate in community discussions.
For more information on this or any other real estate concerns, feel free to contact us at Strategic Realty. Your future, strategically planned.