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New Bank Positions Itself as Green Alternative

SAN FRANCISCO-Launched in November, New Resource Bank is hoping to build a brand around sustainable development.

By Brian K. Miller | Updated on February 04, 2007

(To read more about Real Estate Media’s Green Initiative, please click here, and for more on the debt and equity markets, click here.)

SAN FRANCISCO-New Resource Bank, which launched operations in November, is trying to make a name for itself by supporting sustainable development. Since its grand opening in November, the locally based bank has financed a number of green projects in California including a housing development in Martinez and smart growth, transit friendly projects in the urban cores in Berkeley and Oakland, and in Sonoma wine country.

The bank is taking its effort one step further now by offering financial incentives for green building projects. It will provide more money at a lower cost, with incentives that include lower interest rates and higher loan-to-value to help developers and investors profit more from building green.

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