Seattle Bank to Lend on Condos Again
After a multi-year hiatus on condo building we might see some breaking ground again soon. From the PSBJ, Seattle’s HomeStreet bank starts to finance condo projects again:
The executive management board of HomeStreet, a community bank, has OK’d what Daniels called a comprehensive condo construction program.
“We think we are the only one in the Northwest actively soliciting for construction loans,” Daniels said.
He did not name the projects that HomeStreet is looking at financing, but said one is in “a very urban location, kind of a downtown Belltown location, (and a second) one is (in) Ballard. The others we are hearing about are in the early stages in these kinds of areas.”