Broadmark Realty Capital announced the recent provision of a $21.5 million construction loan.
Barcelo Homes is the developer and builder for the six-story project, which it acquired last year with all necessary permits for $3.5 million.
Christopher Jones Architects designed the project, which Barcelo will build. Broadmark s
Jeff Pyatt said of the Tacoma loan, plus two others in Tennessee and Colorado, “As demand for high-quality housing continues to outpace supply across the nation, our proven business model has enabled us to keep offering creative financing solutions to a variety of sponsors.” All three multifamily loans were worth over $53 million.
Housing and Development Newsletter
Landscaping plans include plants the Chumash traditionally gathered for food, medicine and making items used in their daily lives. One section will highlight the plants used for weaving highly specialized baskets.
Construction is moving forward on the Santa Ynez Chumash Museum and Cultural Center off Highway 246, with plans for completion this year. (Contributed photo)
In addition to getting the structure built, a parallel effort has seen the tribe amass a collection of more than 20,000 cultural objects to help tell their story of Santa Ynez Chumash.
At the time of the design’s unveiling, tribal leaders said groundbreaking would occur before the end of the year.