The Next Big Thing: Marijuana Growing Condos? – NMP Skip to main content

The Next Big Thing: Marijuana Growing Condos?

Phil Hall
Jan 13, 2017
Hey, mon, you wanna see your home values get high? Then make sure your home is near a retail marijuana dispensary

A southern Oregon real estate company is looking to mix two lucrative pursuits, commercial real estate and commercialized marijuana production, into a new business model.

According to a Daily Journal of Commerce report, the start-up Grow Condos is seeking permission from the city of Eugene, Ore., to open a four-building, 50,000-square-foot complex that can be used as an industrial condo space for marijuana growers. The company proposes dividing the space into 32 units that could be sold for between $150,000 and $175,000 each, and each until would feature 22-foot-high spaces for the accommodate of marijuana processing and commercial kitchen equipment.

Grow Condos already has a similar facility in Eagle Point, Ore., and is looking to expand this business model into Alaska and California. CEO Wayne Zallen favored the condo approach because he did not want to become a landlord, but he noted that he would be cognizant to the needs of those that would purchase units.

“I'm a grower myself,” Zallen said. “We have a team that will help with what the customer needs.” 

Jan 13, 2017
Manufactured Housing: The New Affordable Alternative

While the housing market is grappling with widespread affordability and supply, manufactured homes are gaining ground as a new alternative. 

Industry News
Dec 03, 2021
Angel Oak Home Loans Opens 3 New Branches

Continues expansion in Western U.S. with new branches in California, Nevada & Utah.

Industry News
Dec 02, 2021
Open Mortgage Names New President

Joe Stephenson, formerly of American Advisors Group, to lead daily operations.

Industry News
Dec 01, 2021
Homepoint Expands Refinance Program Offerings

Now offers Freddie Mac’s new refinance option, Refi Possible, making it easier for many homeowners with a Freddie Mac-owned mortgage to reduce their interest rate.

Industry News
Nov 30, 2021
Non-QM Lender Deephaven Hires Business Development VP

Dallas-based Tim Fisher charged with growing Deephaven’s correspondent business In Texas and surrounding states

Industry News
Nov 30, 2021
Biden Reappoints Powell As Federal Reserve Chairman

A signal that The Fed will continue its policies as inflation surges and economic uncertainty spikes due to an emerging variant of the coronavirus. 

Industry News
Nov 29, 2021