Rubicon Investments acquired a government office lease contract from the State of Oregon, and it seems to have sparked new interest in the TimberMill Shores development. Rob Shaw, Managing Partner for TimberMill Shores, said that a new prospect for a movie theater has recently come to light.
The idea came from Paul Stewart, CEO of Sky Lake Medical Center. Paul’s idea suggests that it would be in the best interest of the community, and Timber Mill Shores if a movie theater was built at the prime commercial location.
This would not compete with the existing movie theater. Rather, the idea is to repurpose the existing movie theater into a health education facility. Sky Lakes would purchase the existing theater and remodel it to meet their needs.
“We love this idea! Having a Cinema at TimberMill Shores would be a great asset to the development. If the existing theater can be used for education that would be even better. We look forward to working further with Paul Stewart and Sky Lakes on this exciting community project.” – Rob Shaw
The proposed idea comes from Paul Stewart, in hopes that the movie theater can be exchanged for the new Department of Human Resource (DHS) office.
This new facility will serve many parts of the Klamath and Lake county population, including children, families, the elderly and people with disabilities.
Rubicon Investments has also directly communicated with Mr. Stewart their desire to continue working with him on the other opportunities he as described, bringing further growth to the downtown area while addressing the needs of Sky Lakes Medical Center. This would allow Sky Lakes to move forward with addressing the health system’s needs around education and training space.
DHS Office at TimberMill Shores
For over a year TimberMill Shores has been working with Medford based developer Rubicon Investments to work on completing and submitting a Request for Information issued by the Oregon State Department of Administrative Services (DAS). The DAS was looking for a developer and ideal location to build a unique office space to meet the needs of a regional Department of Human Services (DHS) office.
The State had multiple site applications submitted. Rubicon Investments proposal for a development at TimberMill Shores was ultimately selected. The selection was based primarily on overall cost to the State and how the location would support the mission of DHS. This decision was not based solely on the location scoring; other factors played into the DAS’s decision to award Rubicon Investments the lease contract for the DHS office.
Since Rubicon Investments was awarded the bid in late February, the public has asked several questions.
Who is Rubicon Investments?
Rubicon Investments is a multigenerational family business based in the Pacific Northwest. The company has a track record of successful real estate redevelopment projects, with a specific focus on government and medical facilities. Rubicon has significant in-house expertise in deal sourcing, development, re-development, finance and project management. This expertise, combined with the way Rubicon collaborates, has created substantial value in its projects, strong returns, and has strengthened the communities where projects are located. Since winning the DHS award from the State of Oregon, Rubicon Investments has initiated their option to acquire the remaining lots in TimberMill Shores to continue forward with future development in the area.
Rubicon’s involvement in the Klamath Falls DHS project will be led by Justin Hurley Braswell, Executive Vice-President for Strategy and Development at Rubicon.
Klamath Falls Holdings, LLC is a wholly owned subsidiary of Rubicon Investments. Learn more about Rubicon at www.rubicon-investments.com.