Trish Kelly joined Charter One (a subsidiary of Citizens Bank) a few years ago with the mission of helping the 50-person Midwest real estate lending practice go from being an asset-driven business to a client-driven business. With about half a billion dollars to lend, Trish says she's looking more at the "who" than the "what." Right now, the bank has loans out to two luxury apartment buildings in the city:Parc Huron  and the Flair, both set to be completed in 2011.

Only $11 billion of its $151 billion in assets are in real estate, so Charter One hasn't been exposed to much of the recent hardship. Trish and her group are also used to acting as advisers to their clients, offering tips before starting a new construction project. What lies ahead? She anticipates it'll be a long time before borrowers can get 85% loan-to-value  again, a backlash from the lending market of the last five years.