Portland Res Development Lands $39 Mil in Construction Funding

Harbor Sky LLC has obtained a $39.5 mil construction loan for the development of Harbor Sky, a 266-unit multifamily project in Portland, OR. Located at 1055 N. Anchor Way, the development will consist of a six-story building with ground floor podium parking. It was designed by Leeb Architects Inc.

The units, which will range from 689 sf to 1.5k sf in size, will contain a combined 217.7k sf of living space. There will be several different configurations from one-bed/one-bath alcoves, which are an open one-bedroom layout, to two-bed/two-bath penthouses.

The property’s location affords residents with views of the Columbia River and the many boats anchored and traveling along it. It is located along I-5, between Portland and Vancouver, WA, making it ideal for those commuting into either city. There are also a number of parks and walking trails within the immediate vicinity of the development.

The project will include a fitness center, pool and spa, as well as carefully thought out common areas. Most units will offer a clear view of the Columbia River.

The 18-month construction loan was arranged by Parkview Financial on behalf of the developer, Eugene Labunsky, borrowing under the entity Harbor Sky LLC. Construction is expected to be completed in 2019.