New mixed-use project in Seattle’s rapidly growing Rainier Valley.
We provided a $37.5 million construction loan for development of 186 residential units and 12,400 SF street level retail/commercial in Seattle, located conveniently near two future I-90 Light Rail Stations.
"Jabooda Homes was well under construction with the 186 unit Melody project when they engaged R.M. Watson Co. to procure a construction loan. It was in the best interest of the project to go with a lender that was able to move quickly and had a high certainty of closing. Based on past experience with The Benaroya Company, it was determined they would be the best fit for the developer."
Jabooda Homes was well under construction to take advantage of starting the 186-unit Melody mixed use project before the rainy season when they engaged R.M. Watson Co. to procure a construction loan. It was in the best interest of the project to go with a lender that was able to move quickly and had a high certainty of closing. Based on past experience with The Benaroya Company, Watson was certain that we would be the best fit for this assignment.
Jabooda Homes, a quality builder of high-end large townhome developments and single-family homes, is owned and operated by Nghia Pham. Nghia has a portfolio with a wide assortment of projects, encompassing the development of more than 200 homes in South Seattle, Mercer Island and Bellevue, WA.
