A company based in Eagle Point, Oregon has lofty plans to convert an RV park into a cannabis-friendly camping zone. The park, which would be called “Smoke on the Water,” is being considered for a property near Lake Selmac in Josephine County, Oregon.
Grow Condos leases out fully-loaded indoor grow spaces to growers and processors. The RV park would be the company’s third major project. Wayne Zallen is Chief Executive Officer of Grow Condos. “It’s all coming together,” Zallen told the Mail Tribune. The park rendering features a campground for RV’s and tents. The company hopes to eventually expand to other recreational states and add amenities such as a recreational dispensary on the park grounds, pending approval under Oregon’s land-use laws.
The company boasts a unique concept with an estimated excellent ROI. “Our second real estate play that we are equally excited about is our recreational RV park called ‘Smoke on the Water,’” the company’s website reads. “Another first to the industry, ‘Smoke on the Water’ aims to build fun and exciting new twist for campers wanting a unique recreational marijuana camping experience in legal states.”
Borrowing money from banking institutions is nearly impossible to do, so instead, the company builds cash reserves to fund their initiatives. Last March, the company received a $5 million line of credit though Tangiers Capital LLC of San Diego, California.
Also planned is a 48,350-square-foot commercial cannabis processing facility that’s being considered for a 2.65-acre site off West First Avenue in Eugene. The facility is called “Nuggetville” and would be over three times the size of Grow Condos’ original site. The company’s current facility, located in Eagle Point, Oregon, can accommodate up to 10 growers and processors. The company submitted a 40-page proposal to the city of Eugene last December. Four buildings would be built in phases and the facility would eventually house up to 33 growers. The site borders a plumbing business and a diesel repair shop. Eugene rolled out the red carpet,” Zallen said. Both projects could take Grow Condos’ business to the next level.