Portland, OR

The sleek, modern design and energy efficient construction will provide residents the ultimate in urban sustainable living. The design includes ten condominium units, with ground floors that can be rented as Airbnb’s, used as a home office or bedroom or even rented out for a small retail or office space. The building will feature state of the art construction methods using beautiful regional materials creating exquisite environmentally conscious living spaces. The building will include robust, convenient technology throughout, with the ability to support electric car charging and solar panels on the rooftop deck area.

The developer has spent $3.68 million in equity to fund the acquisition, design and predevelopment for the project. The team has completed design and construction documents, and the city is currently reviewing for building permit. We have worked with a general contractor to develop a detailed construction budget and schedule. Total project costs are approximately $12.3 million the borrower is seeking a construction loan of $9 million to fund construction costs, remaining soft costs and permits. The project is in final review stages for the building permit and we expect to be ready to start construction in September. Construction will take approximately 18 months, and sale of the condos is projected to take 6-9 months.