Yes! Another Oregon Scenic Bikeway! Paraphrased from the official announcement.

"The Oregon Parks and Recreation Commission formally approved the designation of the Sherar's Falls Scenic Bikeway during its June 14 meeting in Salem. This 33-mile loop winds along the Deschutes River en route to the Bikeway's namesake. This ride is best enjoyed in spring and fall, as well as some mild winter days. In springtime, wildflowers dot the hillsides, including lupine bearing purple sprays and arrowleaf balsamroot with its pops of yellow. Come winter, Central Oregon can be a dry, temperate reprieve while the rest of the state shelters from rain."

GPS, route, elevation, etc: 

https://ridewithgps.com/ambassador_routes/1214-sherar-s-falls-scenic-bikeway

http://rideoregonride.com/road-routes/sherars-falls-scenic-bikeway/