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2/10/21
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Hurley Development has locked up $27.5 mil in construction financing for the development of Kestrel Park Apartments, a 178-unit apartment community located at 15306 NE Fourth Plain Rd in Vancouver, WA. The loan was provided by Parkview Financial.
Situated on 5.51 acres, the modern, garden-style project will consist of six, three-story buildings that include 54 one-bedroom units, 108 two-bedroom units and 16 three-bedroom units with an average unit size of 883 sf. The project, which is just 10 miles from Portland, has now commenced construction with completion anticipated for March 2022.
Kestrel Park Apartments is part of a multi-phase development. Phases one to four include residential lots that have been pre-sold to a national home builder. Kestrel Park Apartments is part of phase five with future phases to include a retail and office center. The site provides nearby access to local retailers such as Walmart, Safeway, and Dollar Tree and is a convenient commute to major employers in the Vancouver area including Banfield Pet Hospitals Headquarters, Frito-Lay, Nautilus and PeaceHealth.
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