LINCOLN CITY, OR-West Coast Bancorp is looking to sell its portion of 520-acres here slated for an 1,800-unit residential development called the Villages at Cascade Head. Earlier this month, the bank was the high bidder for the property, on which it had begun the foreclosure process at the Lincoln County Courthouse.

Officials at the lake Oswego-based bank holding company could not immediately be reached for comment Friday morning, but attorney Laura Walker, who represented the bank at the property auction on Oct. 19, told local newspapers the bank is “very interested in finding a buyer.” The News Guard also is reporting that Marge Boyd of Lincoln Highlands Limited Partnership, the original developer of the Villages property, is in contact with the bank and is negotiating to purchase the Bank’s land. A city planner tells that an architect for LHLP is meeting with the city this afternoon to talk about the property.

The Villages at Cascade Head would be the largest development in the city’s history. The property’s changing ownership has made progress difficult. “The status of it, who owns it, seems to be evolving daily,” says Lincoln City planner Matt Harris. “But we continue meeting with folks because there are all kinds of deadlines associated with the property, and nobody wants to let those deadlines pass.”

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