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5/24/21
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Kirkland Development has broken ground on The Ledges at Columbia Palisades, a residential development in Camas, WA consisting of 90 rental apartment units and 51 condos. The project is being financed with a $42 mil construction loan provided by Parkview Financial.
The Ledges at Columbia Palisades is located at 19801 East Ascension Loop in Camas, at the border of Vancouver, WA. Downtown Vancouver is just 10.5 miles to the west and downtown Portland about 16 miles south. The project is anticipated for completion in 2022.
Situated on 1.3 acres and consisting of two buildings, The Ledges at Columbia Palisades is perched on a hill overlooking the Columbia River. The 192.7ksf project will be five stories in height, in addition to two partially subterranean parking levels with 231 parking spaces.
The apartment component will consist of 18 studios, 51 one-bedroom units, and 21 two-bedroom units with an average size of 715 sf. The condominium component will consist of 42 two-bedroom units averaging 1.3k sf and nine three-bedroom units averaging 2.1k sf. On-site amenities will include a lobby, lounge, mail room, bike room, fitness room, two pools, roof deck, dog washing station, and a car washing station.
“The greater Vancouver area consistently exhibits robust fundamentals and has attracted increased attention from developers and investors over the past 18 months,” noted Paul Rahimian, CEO and Founder of Parkview Financial. “We anticipate this area to continue to see growth as this location is convenient to a number of nearby job centers.”
The greater Vancouver area is a strong market that has begun to operate independently of the major Portland, OR market. Camas, located on the eastern portion of the Vancouver market, is known for its schools and single-family homes and has its own strong fundamentals. It is home to many world headquarters including Nautilus and Fisher Investments. Camas’ business-friendly environment and affordable land continues to attract tech development.
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