The 18-hole River’s Edge Golf Course, a popular weekend destination for Bend-area golfers, has been sold to a real estate developer for conversion into nearly 400 homes amid a real estate boom in Central Oregon.

The owner of the course, Wayne Purcell, announced his intention to sell the golf course and surrounding lands to Pahlisch Homes, according to a press release.

The real estate market in Bend has soared over the past year as the pandemic has driven urban dwellers to find properties with more space and closer to outdoor activities. The median price for a single-family residence in March hit a new record high at $590,000 and the average days on the market for a home is less than a week.

Jessica Seidel, spokesperson for Pahlisch Homes, said she is unable to disclose the price paid for the property.

Pahlisch said in a statement that Purcell is planning to retire. His previous investments include The Riverhouse Hotel and Convention Center, which he sold in 2015.

Pahlisch Homes, a Bend-based homebuilder, is expected to hold conversations with members of the community already occupying homes around the golf course to formulate a plan for the area.

In a release, Pahlisch said it plans to convert half of the land into housing and leave the other half of River’s Edge as open space. The project will also include the construction of a section of the Deschutes River Trail.

Documentation submitted to the city of Bend describes the development as “The Uplands” and states that 71 acres will be preserved as permanent open space. The remaining area will be the site of around 372 homes.

News of the sale came as a surprise to many of the residents living near the golf course.

“I’m very disappointed, absolutely. A lot of our homeowners retired there. They moved there specifically for the golf course, for the openness, for the space,” said LuAnn Stanislowski, a resident and president of the HOA for the Majestic Ridge Neighborhood.

Stanislowski said she has fielded lots of phone calls from people in the neighborhood who have questions over the future of the development.

“People were just made aware of this a couple of days ago,” she said. “First reactions are angry, and everyone is feeling it was not very transparent on the part of the developer.”

Stanislowski, who moved into the neighborhood in 2015, said there hasn’t been much time to absorb the news of the sale, and residents are looking forward to the public hearings and the release of development plans.

Another resident, Rachel Cohen, said she is concerned that the influx in housing is going to add to an already existing traffic problem.

“It’s hard to get out to Mt. Washington (Drive) sometimes even now. If you add another 700 cars, it’s going to get worse,” said Cohen, who retired to the neighborhood from Austin, Texas, in 2016.

Cohen is not a golfer but chose the area for the green space. Her backyard will remain open during the first phase of construction, but she worries about future construction.

“If they can take away the back nine, they can take away the front nine, too,” she said.

Julie Brown, a spokesperson for the Bend Park & Recreation District, said the district has been notified about the project. Pahlisch gave district officials a site visit last week and discussed opportunities for trail construction and better alignment of the Deschutes River Trail.

“We are interested to learn more about what they are proposing and how open space will be provided and managed. We are also interested in improvements to the Deschutes River Trail — crossings and access to the trail particularly,” said Brown in an email.

“Pahlisch has always been good about coordinating with us and considering parks and trails in their developments,” Brown added. “We are confident that we’ll hear more as they develop project details more fully.”

David Gilmore, a broker for Coldwell Banker Bain, said the recent construction of Pahlisch homes already in the Awbrey Butte area hasn’t hurt the values of resale homes nearby.

“Being new with current design choices does make the new homes appealing to certain buyers,” said Gilmore. “There are pros and cons to buying new construction or resale homes, so the added inventory gives buyers more choices in a desirable location.”

Pahlisch says it plans to construct “missing-middle housing,” which includes a range of housing types at different price points. Duplexes, row homes and courtyard apartments are examples of missing-middle homes, which ideally are wedged between single-family homes and mid-rise apartments. Plans provided to the city also include single-family residences.

“The missing-middle housing is a crucial component in the marketplace and should diversify options that already include townhomes in the area,” said Gilmore.

This is not the first time Purcell and Pahlisch have done business together. Four years ago the pair worked jointly to construct townhouses on Bend’s east side, near St. Charles Bend.

The River’s Edge course has been open for business since the mid-1980s. Golfers wanting to get their last strokes in at the course have some time to do so. Pahlisch said it will keep the course in operation through at least part of the 2022 season.

Stanislowski said residents will be carefully watching the proceedings, with some concern over their investment.

“We understand that it’s a business,” she said. “Home values I am sure are on the back of everyone’s mind.”