Though the recession is in full swing, there are still signs of life out there that indicate some leveling out.
One of them is that the former Blockbuster Video store at 1630 Queen Anne Avenue North, is to become an Umpqua Bank. Umpqua becomes the fourth bank on the hill joining Wells Fargo, Homestreet and KeyBank.
Seattle-based architectural firm, Miller Hull, is designing the bank's interior, and another local firm is doing the commercial landscaping. No word yet on when the official opening will be. Umpqua has locations throughout Oregon and southern Washington state, and a few in Seattle, including South Lake Union and Eastlake.
Another anti-recession note is the arrival of Homegrown, a Seattle-based sandwhich shop that is moving into the former Peet's Coffee location at the corner of Boston Street and Queen Anne Avenue North.
Residentally speaking, record low interest rates are prompting homeowners to refinance in droves. Homestreet Bank manager Hossein Soleymani and loan officer George Artero have been working steadily on re-fi processing. Artero who has been at Homestreet since 2006 said he has never seen rates, which have been lingering around 4 percent for a 30-year fixed, since the 1970s.
Soleymani said this has been the best year for his bank since 2003.
"So far, by end of October, we've done $1.15 billion in refinancing," Soleymani said.[[In-content Ad]]
