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Financing in Place for Next Phase of Riverscape

PORTLAND-Local developer Tim Ralston closes on $24.65 million in construction financing from Home Street Bank for the next phase of Riverscape, a 350-unit condominium development rising on 15 acres of riverfront immediately north of the Fremont Bridge.

By Brian K. Miller | Updated on December 21, 2005

(To read more on the debt and equity markets, click here.)

PORTLAND-Using $24.65 million in construction financing from Home Street Bank, local developer Tim Ralston has begun construction on the next phase of the 390-unit Riverscape condominiums here. The development site is immediately north of the Fremont Bridge on the west side of the Willamette River.

When completed, the entire development will include 104 town homes, two condominium towers (this one and a second with 120 units, to be built after this tower is completed), and 91 brownstone-style homes. About 84 units are currently under construction, not including this latest phase for which Ralston has obtained financing.

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