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Albina Community Bank
Albina Community Bank is the only Community Development Bank in North and Northeast Portland Oregon.
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Nov 24, 2008Portland Independent Media Center
The controversial Mississippi Ave Lofts received a federal low income loan from The Albina Community Bank. I reread it several times because I couldn't believe my eyes. I think there is something terribly wrong with a high end condo project such as MAL, with 721 sq ft studios selling just below 300,000 and housing high end retail stores like Pastaworks, qualifying for a federal loan for low income communities.
Not only are they high end, but these developers have a documented track record of trying to bend rules and being less than honest in their drive to capitalize as much as they possible even in spite of community opposition. Then after they finally get their way (city capitulates, big surprise) they hire Gray Purcell a non-union, hire anybody off the streets(literally), company.
Mar 24, 2008Mississippi Avenue Lofts
Not only are they high end, but these developers have a documented track record of trying to bend rules and being less than honest in their drive to capitalize as much as they possible even in spite of community opposition. Then after they finally get their way (city capitulates, big surprise) they hire Gray Purcell a non-union, hire anybody off the streets(literally), company.
The Mississippi Avenue Lofts development team is pleased to announce that the project has been featured in the just released Albina Community Bank 2007 Annual Report.
Albina Community Bank, Portland's only Community Development Bank is proud to be a partner and the preferred lender for Mississippi Avenue Lofts.
May 16, 2008kptv.com - KPTV FOX 12
A gunman robs the Albina Community Bank near Northeast 56th and Sandy streets just after 9 a.m., police say.
Oct 30, 2007PDX PIPELINE
*JC Edit: This is why I left Wamu for the lovely Albina Community Bank over a year ago. You can read that here.*
WaMu has this lovely statement on The WaMu Difference section of their website. Until recently, I was a WaMu customer. As a customer I certainly didn't feel any "value" or was I "listened [...]
Nov 26, 2007Portland Housing Blog
The DJC talks about tighter lending standards for developers.
Apr 26, 2007Portland Business Journal
Portland banks say they'll continue to loan money to most commercial construction jobs; they just want more money up-front.
"I think there will be plenty of funds out there for construction next year; the caveat is they will be underwriting more conservatively," said Ken Griggs, a commercial lender with Norris Beggs & Simpson Financial Services. "So look for more pre-leasing and less speculative construction financing and tighter
underwriting standards and more equity in those transactions."
Albina Community Bank, for example, could be looking for as large as a 25 percent stake in the form of cash and real estate equity, depending on the type of project,
said Randy Knipple, the bank's chief loan officer.
The bank will be less likely to loan money to a condo project, he said, because there are already so many unsold condos in Portland. But the bank will continue to loan to projects that "make sense in our market" and will favor buildings that have been mostly pre-leased or offer a guaranteed buyer, Knipple said.
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Cheryl Cebula has been promoted to president of Albina Community Bank.
Dec 4, 2005Portland Public Art
What will protect this mural? This public artwork is located on the South face of the American State Bank on Martin Luther King Blvd and about Knott Street, in NE Portland.
A rare insight from a writer with the Portland Mercury describes the ACB interior in 2000. Formerly Albina Community Bank - I think - this building is currently empty and out of business. According to the Metro Murals database of Portland's mural artwork (our city's most accessable public arts database! Whew!) it was made by Paul Gilbert in 1999, and is 8' by 25', 200 square feet. ...