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. National 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. National’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 National provided on the Shadyside project is another illustration of our flexibility in meeting our developer’s capital requirements.