Developer snags $43M construction loan for $1.5B WA mixed-use project

Dive Brief:

  • An Oregon developer has secured a $42.5 million construction loan from U.S. Bank, making it possible for work to continue on a $1.5 billion Vancouver, WA, mixed-use development on the Columbia River, according to Commercial Property Executive.   
  • Gramor Development said it has performed infrastructure work for the Waterfront Vancouver project and will now move forward with two additional projects — a seven-story office building and a 63-unit luxury apartment building. Both will have ground-level retail and restaurant space.
  • When complete, the development will feature 3,300 residences, more than 1.3 million square feet of Class A office space and a boutique hotel, as well as additional retail and restaurants.

Dive Insight:  

Vancouver, WA, is part of the Portland, OR, metro area, and Waterfront Vancouver is expected to have a major impact on the area. Gramor officials said the project, which also features a park, will give residents and those

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