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Category: Residential Real Estate

June
27th

New Foss apartment could break ground in September

A new waterfront apartment building, the first built on downtown Tacoma’s Thea Foss Waterway since the recession began six years ago, could break ground as early as September.

The 167-unit Henry Apartments are planned for a site between the existing Albers Mill and the Interstate 509 cable-stayed bridge over the waterway.

The Foss Waterway Development Authority has been expediting the deal that will allow the construction to begin since early this spring when it requested proposals for the site.

The authority’s board Wednesday night voted unanimously to sell the lot, called Site 1 by the authority, to the Henry Group,

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June
21st

Planning meeting to discuss first steps in major developments to North Downtown – including Stadium District

More people, bigger buildings, more pollution, transit, housing, commerce … whew!

If you live in, work in, own property in or care about Tacoma’s North Downtown area, then you might want to attend a public meeting that will discuss the impact of development there over the next few decades.

For planning purposes, North Downtown roughly runs from the Thea Foss Waterway to Yakima Avenue and from South 15th Street up through the Stadium District, to include Wright Park, the St., Helens District and Tacoma’s commercial core.

The meeting is scheduled for 5:30 p.m. on Wednesday, June 26, in the main

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June
17th

Tacoma home builder, developer and entrepreneur Oscar Hokold dead at 98

Oscar Hokold, who grew a small home-building concern  into a business empire that included a chain of motels, thousands of apartments, a restaurant and condominium development company, has died at age 98.

The son of Norwegian immigrants, Hokold passed away on June 5.  A private family service has already been held. His wife of 71 years and business partner, Olivann, died two years ago at 96.

Hokold was best known for his string of King Oscar motels in Western Washington, his Oscars on Hosmer restaurant and the 14-story Pacific Towers condominium that overlooks downtown Tacoma at 3201 Pacific Avenue.  During

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June
11th

UPDATED: More apartments planned for Tacoma’s St. Helens neighborhood?

As Exit133.com noted earlier today, one of the developers of The Metropolitan, at 245 St. Helens Ave., is going through environmental review for a new 121-unit apartment building.

The Land Use application, published yesterday, is a public document, and can be read here. It’s a PDF. It also shows the project is in the very early permitting stages.

The details included there show the project would be at the corner of Broadway and South 4th Street, just down the hill from the existing Metropolitan on what is now a vacant lot used for parking. In addition to apartments, the

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June
6th

Gig Harbor’s Rush Residential announces plans for new 31-home community

Rush Residential, the custom home building arm of The Rush Companies, announced this morning its newest residential community in Gig Harbor.

Bellesara will be a 10-acre, 31-home neighborhood just west of the Wollochet exit from Highway 16. Sales and construction will begin this fall, according to a news release.

Homes at Bellesara will range from 2,600-3,000 square feet and be priced from $400,000-$450,000. The homes will have large two- and three-car garages on large lots. They also will be designed as open concept and have large covered outdoor areas.

Bellasara is the first of three new neighborhoods Rush has

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June
6th

Long-awaited downtown Kent residential and retail project will begin next month

A long-awaited Kent residential and retail project at a key downtown intersection will begin construction next month.

The five-story, mixed use building will contain 176 apartments, 3,100 square feet of retail and 35 public parking places in addition to parking spots for residents.

The project is being developed by Seattle’s Goodman Real Estate. The building is being designed by Studio Meng Strazzara.

The construction site occupies a strategic location near the Kent Station retail development and Kent’s historic downtown district.  The project will be called “The Platform” because of its proximity to Sound Transit’s Kent Sounder commuter rail station and

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June
5th

Abitibi paper mill site in Steilacoom sold

The former site of an Abitibi-Consolidated paper mill on Chambers Creek in Steilacoom is in new hands.

The former industrial site, now missing most of the machinery and buildings used to create newsprint for some 80 years, sold last month to a development group based in Tacoma.

The paper mill, which had been owned by several forest products companies during its life, halted production in 2000. More than 170 workers were laid off.

Falls Development Group  is the site’s new owner, said Steilacoom Town Administrator Paul Loveless.  Loveless said he met with the new owner, George Heidgerken, and his planner,

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May
28th

California-based apartment developer buys Tacoma’s Chelsea Heights and might soon own Albers Mill

A California-based apartment developer has bought Chelsea Heights in Tacoma, has an offer in on Albers Mill and its eyes on other properties in the city.

ColRich, headquartered in San Diego, bought Chelsea Heights for $18.8 million earlier this month, two years after a Seattle-based company snapped it up for $15 million after a bank foreclosed on the Prium subsidiary that owned it. (You remember Prium, right?)

Jim Jensen of Hendricks-Berkadia, who brokered the deal, told me this afternoon that news of State Farm’s plans to expand to downtown Tacoma helped seal the deal for ColRich.

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