In July of 2019, Michael and Traci Tenhulzen offered to purchase the “pink tractor” property in Woodinville’s Hollywood Tourist District. The property had been under a great deal of scrutiny for operating with commercial beer and wine consumption on a residentially-zoned parcel. Needless to say, the pre-closing process had its share of unexpected hurdles to overcome with King County Code Enforcement.

Hollywood Manor construction loan video 4:08 duration

By September, the property became known as Tenhulzen Reserve, to honor the local wine industry, and as a commitment of preserving the rural area residential zoning. This commitment meant removing the wine and beer structures as well as replacing paved surfaces with approved alternatives.

“Tenhulzens In Space” poster was photographed here in 2022.

The Hollywood Manor was designed to include modern amenities within the feel of a 100 year-old structure. By August of 2022, building permits were issued, but financing had not yet been secured. The Tenhulzens took a leap of faith and broke ground a month later, anticipating funding within the next few weeks.

Over the course of the next six months, it had become clear that the commercial banking relationship they had enjoyed for more than a decade was not going to fund the project. With framing underway, the Tenhulzens scrambled for alternative sources of funding.

Who would take on construction lending for a project that was already underway?

Michael, Traci and Isabelle on-site.

Legacy Capital Group was referred by one of the several commercial banks being interviewed. Immediately, Michael and Traci felt a sense of relief in finding a construction financing partner that was not held to the same set of rules as the federal banking industry. The process was much more streamlined with far less time for underwriting approval.

Framing was nearly completed when the project was funded. Surprisingly, Legacy Capital Group funded the entire build from excavation to final inspection. More surprisingly, the project completed within the contingency rate of the approved budget and within the 1-year lending agreement.

Hollywood Manor exists because of Legacy Capital Group.

Unless you can pull equity directly out of your home with a simple HELOC, we no longer recommend banks for construction lending.  There is just too much red tape. We’ll know better next time to contact Shannon first to save a lot of time and stress.

The success of this project boiled down to accurate budgeting and scheduling. Tenhulzen Residential’s single point accountability managed everything from planning to completion throughout the 26-month permitting process and 14-month build. During that timeframe, our crew performed 32 successful remodeling projects, proving the skills and attention to detail our crew performs to within our Design/Build system.

Hollywood Manor at Tenhulzen Reserve is a private residence showcasing installed product for residential design inspiration. The 5,200 square foot home is also available for events and overnight accommodations. Visit hollywoodmanor.com for more information.