Harbor Properties: “Fully committed” despite article gloom

October 10, 2008 6:34 pm
|    Comments Off on Harbor Properties: “Fully committed” despite article gloom
 |   Development | West Seattle news

wholelink.jpg

You may already have seen this linked from our More page (which includes two automated link feeds: citywide/regional media stories mentioning West Seattle, plus CL items mentioning West Seattle) – a story in today’s Puget Sound Business Journal (you’ll only see part of it unless you have a subscriber log-in) suggesting the economic doldrums may be threatening Harbor Properties projects scheduled to start construction next year, including Link (38th/Alaska; rendering above). We contacted Harbor’s Emi Baldowin (a West Seattleite) to follow up, and here’s the HP reaction:

… when we were approached by the writer, she wanted to discuss how the economy is impacting local business in general. The context of the story does not represent Harbor’s confidence in the future success of its projects. Harbor also believes it is better positioned than most due to our strong balance sheet, long and successful development history, and our philosophy toward community stewardship.

Harbor realizes that today’s struggling economy is presenting some unique challenges —- for everyone, not just the development community. Some real estate projects have been successfully funded, while others are still seeking investment dollars. And real estate developers everywhere are looking to secure construction financing on their commercial and residential projects.

Despite the prevailing economic climate, Harbor remains fully committed to bringing all of our development projects to market, whether they’re currently under construction or now being planned. We maintain our mission of enhancing Seattle’s existing urban neighborhoods with highly sustainable, mixed-use development.

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