One of Oregon’s newer RV destinations, the 14-acre Riverbend RV resort in Harrisburg, is slated to go up for auction. The upscale resort, replete with a conference center and 19-room hotel, apparently is a victim of the receding Great Recession, according to KMTR NewsSource 16.
Riverbend RV park first broke ground in 2004, when RV sales were strong. They set up shop by major RV manufacturers in Junction City and Harrisburg.
The idea was to siphon business from RV owners in town for repairs or upgrades. Resort managers say when it was opened in 2009 RV sales had dipped, and the resort’s guests had gone with it. After the original owners went bankrupt, Citizens Bank took over the resort earlier this year.
After seizing the property, the bank kept the park open and managed by a hospitality group from Portland. “They understand that this is a huge asset for Harrisburg and Junction City,” said Mark Keller, the current manager of the resort. “They want to keep it continuously open to retain that value and also to keep everyone employed.”
According to Citizens Bank, the resort — with the hotel and conference center attached — is still profitable and believe it’s unlikely that someone would buy the resort to liquefy its assets. “In a property like this, a resort, there’s much more value in an operating entity,” said Vice President Bill Hubel. “As opposed to a closed, just a vacant piece of property.”
As the asset holder, the bank will put up a starting bid of nearly $3 million dollars. The resort was said to have cost around $5.3 million when it opened. The winning bid in the auction has to be paid that day in full.