§25.2 - Overview of Project Financing
| Jurisdiction | Washington |
§25.2 Overview of Project Financing
A construction loan provides short-term financing for the construction or renovation of buildings and other improvements to land, and may also finance the borrower's initial acquisition of the project site. See generally David A. Weissman, Construction Lending: From the Ground Up (With Form), 22 No. 6 PRAC. REAL EST. LAW. 19 (2006). Examples of construction loans include the following:
- A plat development loan to a developer who subdivides land into smaller building lots and uses the loan proceeds to construct roads, utilities, and other plat improvements. The developer uses revenue from the sale of platted lots to builders to repay the plat...
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