Hollywood Lofts: A Historic Renovation in Seattle's Trendy Capital Hill Neighborhood
January 24, 2017
At a time when Seattle is seeking to preserve the character of neighborhoods and buyers are looking for residential and commercial spaces with a “high walk score” it may be surprising that many banks don’t finance renovations of historic buildings. Despite the demand for these types of buildings, local developers have a hard time obtaining construction loans because of the risks and complexities involved. I have always been drawn to historic buildings and today I specialize in financing historic renovations at Peoples Bank. Our expertise lending in this area has allowed us to gain a foothold in the competitive Seattle construction lending sector–while at the same time participate in some truly exciting projects.
Last month I shared insights about how my team evaluates loan requests for historic renovations. In this article I’d like to provide an example of a historic renovation project we financed that demonstrates how we work with project teams to transform historic buildings and rejuvenate communities. Read more..