PORTLAND - Beneficial State Bank is considering constructing an 11-story multi-use wood building in Portland, OR that would house corporate offices and affordable housing.

Kat Taylor, the bank’s CEO,  said the company filed an application with the U.S. Department of Agriculture for a wood-framed building, according to Portland Business Journal. The bank is currently working with an architect and project manager on the project, but no building plans have been yet drawn.

Constructing high rise wood buildings is possible with the use of Cross Laminated Timbers, or CLTs, and the advances in adhesives. Products like CLT are flexible, strong, and fire resistant. In construction, wood products can be used as a successful and sustainable alternative to concrete, masonry, and steel, the White House Rural Council and USDA said when announcing the U.S. Tall Wooden Building Competition in 2014.

CLT panels, which can be up to 10 feet wide by 60 feet long and up to 18 inches thick, are made by bonding together perpendicular layers of dimensional lumber, such as 2-by-4s, 2-by-6s or other dimensions, to create massive panels that can be erected and used for walls, floors structures and roofs. In taller buildings, CLT becomes a cost-effective replacement for steel or concrete, and using it in construction sequesters carbon.

Last year Oregon-based DR Johnson Lumber Co. teamed up with Oregon State University researchers to determine how CLT made from lumber might catapult Oregon wood products to the forefront of construction innovation and technology.