The Shadyside project is a unique blend of retail and
residential uses, with a renovated and expanded Giant
Eagle grocery store topped by a five-story residential
condominium. NEBF was able to provide construction loans
for both the grocery store and condominium components.
The grocery store loan features a competitive floating
interest rate during the construction period, with a
conversion into a permanent loan at a fixed rate upon
completion. NEBF’s loan on the condominium offered
the developer an advantageous level of construction
leverage at a fixed interest rate. The mix of both short
and long term financing NEBF provided on the Shadyside
project is another illustration of our flexibility in
meeting our developer’s capital requirements.
