The Umpqua Indian Development Corporation, the Cow Creek Tribe of Umpqua Band of Indians, bought Village Station from Umpqua Bank for $2.7 million.
Built in 1998 at 500 SE Cass Avenue, Village Station houses offices for different businesses and organizations including Umpqua Bank offices. It has a total real market value of $3,834,859, according to the Douglas County Assessor’s Office. The sale was recorded with the Douglas County Clerk’s office on Oct. 11.
Chief Financial Officer for the tribe Gregg Hervey said that’s a common amount for the tribe to spend on its financial investments.
“It’s a real normal sort of exchange between our bank and our business interests,” Hervey said.
Susan Ferris works with the tribe and spoke to Hervey and other tribe officials associated with the purchase who were not available for comment. She spoke with The News-Review on their behalf.
“The Village Station building will continue to keep the people who have offices there,” Ferris said. “The Cow Creek will probably bring a few offices over that are part of the Cow Creek organization as well. Essentially, the building is a real estate purchase kind of motivated by needing a little room for expansion for people, but we aren’t displacing anyone who is there.”
Ferris said there isn’t a specific plan yet concerning what movements will happen within the building or which departments from the tribe will relocate to Village Station.
“As soon as people get away from the main campus, the communication gets a little more complicated,” Ferris said. “You’re never going to convince me email is as effective as looking a person in the eye and saying, ‘What do you think of this,’ and getting a response.”