Stacy Allison Way Holdings, LLC, an entity of West Coast Home Solutions, has secured a $55 million refinance and construction loan for a two-phased, 586-unit multifamily complex in Woodburn, OR. Parkview Financial provided the loan for the project, located about 30 miles south of Portland, with delivery of phase one expected in early 2024.

“This is Parkview’s third financing project with West Coast Home Solutions, an experienced Oregon-based developer,” said Parkview CEO Paul Rahimian. “We believe this project will help alleviate some of the pent-up housing demand in Woodburn and nearby cities.”

Phase one of the development, called Allison Summit, encompasses seven, three-story buildings and a clubhouse in a garden-style design and consists of one-, two- and three-bedroom units. The residences feature patios/balconies, plank flooring and stainless steel appliances. Located just off Interstate 5, the property is within walking distance from the 3.8 million-square-foot, under-construction Amazon Distribution Center slated for completion in 2024.