Grow Condos, based in Eagle Point, Oregon, has reached an agreement to buy a piece of land for the installation, to be called “Smoke on the Water,” according to CEO Wayne Zallen, reports Nick Morgan at the Medford Mail Tribune. Grow Condos will be buying Lake Selma Resort & RV Park, according to a company press release.
If approved, it would be the third project for Grow Condos. The company offers fully outfitted indoor grow spaces for sale or lease at its first project, a 15,000-square-foot facility that opened in 2015 in Eagle Point. The company is also working to launch a second industrial pot-growing facility in Eugene.
At the end of December, Grow Condos submitted an application and site plans to the city of Eugene for a project called “Nuggetville,” a 48,350-square-foot commercial marijuana processing facility. It would be more than three times larger than the company’s existing 15,000-square-foot warehouse that accommodates 10 growers and processors in Eagle Point. All spaces at the Eagle Point facility are occupied, according to Zallen. The new facilities, consisting of four buildings to be built in phases, will be able to accommodate 33 growers, he said.Grow Condos hopes to expand its business model to campgrounds in other cannabis-friendly states, according to Zallen. Amenities will include a recreational marijuana dispensary at the facility, he said.
“Because it’s not yet permissible to recreationally smoke in National and State Parks, it has been discovered that relaxed marijuana laws are indeed a powerful motivator for tourists, which creates a very lucrative niche opportunity for smaller, privately owned properties that can offer the freedom of experiencing Oregon’s strikingly beautiful landscape while also allowing its visitors to enjoy Oregon’s 420 friendly privileges,” a Grow Condos press release reads.
“This is one of the most exciting ventures to date for our Company,” Zallen said. “The opportunity for this segment of the real-estate industry is potentially very advantageous and largely untapped.
“This year we expect significant growth through this subsidiary, as we build, launch, and brand one of Oregon’s next beautiful cannabis friendly destinations,” Zallen said.