Southern Oregon - Medford, Oregon

"It’s a pioneering effort," said Terry Cook, the developer heading up Bella Vita, a $25 million, six-story residential and commercial project between Main and Eighth streets and Fir Street and the train tracks.

Construction is scheduled to begin in October, with occupancy in the first condominiums in September of 2006.

The development team was in town Monday to formally announce construction and sales plans for Bella Vita, which means "beautiful life" in Italian.

"We wanted to create a place that was really fun to be," said Cook of Cook Development Corp. of Portland. "We always wanted sort of an old-world charm."

It’s an idea that could prove wildly popular or difficult to sell, said Rich Humphrey, managing broker at Coldwell Banker Pro West of Medford.

"They’re going into a market segment that is a little bit untested in Medford," he said. "I hope it goes."

Bella Vita comprises three buildings which will horseshoe around the new Evergreen parking structure. Construction of the mixed-use buildings will begin in October. The exterior will be mostly brick with some ceramic tile.

Phase I, fronting on Eighth Street, will include 26 condominiums and 4,430 square feet of retail space on the street level. Phase II, fronting on Fir Street, will get underway simultaneously and will consist of 44 condominiums, 8,300 square feet of retail space and a public courtyard area. Phase III, fronting on Main Street, will comprise 9,000 square feet of retail and 55,000 square feet of office space.

The block is formerly the site of the 1945 Winetrout building which became Crater Lake Motors and People’s Furniture. The building was demolished in 2000.

The one- to three-bedroom condos will range in size from 900 square feet to 1,500 square feet and more. Prices will range from $150,000 to $400,000, said Jack Wagnon, the real estate agent handling the condo sales. He said various decor packages will be offered, with choices such as hardwood floors or wool carpeting, honed granite countertops or polished granite.

"There will be two-story apartments on top," he said, adding that reservations will be taken starting July. He’s setting up a virtual sales center at www.bellavita-on-main.com, set to launch July 15. A physical sales center will be set up at the site February 2006.

Humphrey of Coldwell Banker said the timing is good because the real estate market is strong, and the prices sound reasonable and competitive.

Cook Development has headed up many statewide projects, including the Commodore II, a mixed-use commercial and retail building in The Dalles, and The Applewood Village, a duplex housing community in Hermiston.

Cook said at one point he had looked at building a hotel at the Winetrout site, but determined, mostly because of the adjacent railroad, that it wouldn’t be the best place to put a hotel.

Lisa Fisher, of Mele, Taylor & Westerdahl Inc. of Portland, is overseeing the retail space. She said already she’s hearing from potential businesses.

"Food, recreation, restaurants and boutiques are expressing interest," she said.

Cook said his studies show Los Angeles County as the No. 1 county from which people move to Southern Oregon, and anticipates people from that area being interested in Bella Vita.

Humphrey said he thinks more people living downtown will help make it more inviting.

"I think the downtown’s going to get a whole lot nicer in the next couple years," said Humphrey.