Jun 30, 2016

EMB adds Medina property

EMB Management, an Associa company, has secured a management contract for Medina Park Place Homeowners' Association in Medina. The eight-home HOA is near Lake Washington. Janell Gonyea, CMCA, AMS will be the community association manager.

MarketFront gets $8M from US Bank

With nearly $8 million from U.S. Bank, 40 units of below-market-rate housing for seniors will be part of The MarketFront expansion at Pike Place Market. U.S. Bancorp Community Development Corp. said it invested $7.9 million in low-income housing tax credits equity and a $7.3 million construction loan. Tenants will earn between 30 and 50 percent of area median income. Rents will range from $431 to $745 a month. The project is being co-developed by Pike Place Market Preservation and Development Authority.

Waterstone Mortgage opens in Silverdale

Waterstone Mortgage is opening a new branch at 2819 N.W. Kitsap Place in Silverdale led by loan originator Shane McGraw. Waterstone started in 2000 and has grown to more than 600 employees in 20 states, with the ability to lend in 37 states. It is based in Pewaukee, Wisconsin.

Jun 23, 2016

HomeStreet Bank closes $66M loan

HomeStreet Bank Commercial Real Estate said it has provided a $66.13 million loan for Spruce Apartments in West Seattle. The developer is Madison Development Group. Financing was arranged by HomeStreet Bank Vice President Katie Plett. The 216-unit complex has 42,000 square feet of retail and opened in 2015. HomeStreet Bank arranged a 10-year, fixed-rate Fannie Mae DUS permanent loan to refinance Spruce Apartments and LA Fitness.

HUD gives funds to WSHFC

The U.S. Department of Housing and Urban Development awarded $411,356 to Washington State Housing Finance Commission to help people with housing and prevent foreclosures. The award is up 67 percent from the $245,522 in housing counseling funds the commission was awarded last year. The commission partners with nonprofits to deliver services including counseling on purchasing, mortgage delinquency/defaults and reverse-equity mortgages as well as seminars on homebuying and foreclosure prevention.

Forum on Portland housing proposal

Oregon Opportunity Network in Portland is putting on a public forum about Portland's inclusionary housing policy on Thursday, Sept. 1, starting at noon in the First Unitarian Church's Buchan Room at 1226 S.W. Salmon St. Information is available at (503) 223-4041 or at http://www.oregonon.org. The speaker will be Dan Saltzman. The group said in a press release that by early September the SB 1533 should be nearly complete. The forum will let people learn more and provide feedback. The policy would allow local jurisdictions to enact a limited form of mandatory inclusionary zoning in private developments.

Gig Harbor retail refinanced

Blake Carbonatto, vice president of Rush Capital, said Rush recently closed refinancing for Olympic Retail in Gig Harbor with a 10-year fixed-rate loan from a portfolio lender. Rush Capital said it has closed almost $100 million in financing over the last eight months. The Rush Companies design, develop, build and manage residential and commercial projects in the Puget Sound region, with plans to grow along the Pacific Coast.