Tacoma Town Center Buildings 5 & 6 Tacoma, WA

Tacoma Town Center is a multistory, mixed use development designed to take advantage of its elevation change by offering views of Tacoma’s burgeoning Brewery and Museum District, Mount Rainier and the downtown landscape. The project features specialty retail, entertainment, restaurants, shared office space, and multifamily housing. Tacoma Town Center is located in one of six census tracts designated as Opportunity Zones in Tacoma. It is also located adjacent to the University of Washington’s Tacoma satellite campus.

Buildings 5 & 6 are on the uphill side of the development and will begin after Buildings 3 & 4. They are comprised of 250 multifamily units, 2 retail spaces of 2,200 sqft each, and 215 parking spaces.

Project Details

Units:

250 total residential units

80 studios (481 to 530 sqft)

100 1 bed/1 bath (605 to 823 sqft)

60 2 bed/2 bath (980 to 1,061 sqft)

10 townhouses 3 bed/2 bath (1,200 sqft)

Square Feet:
219,200
Entitlements:
8 months
Construction Length:
18 months
Long Term Financing:
65% Loan to Value Max
Estimated Total Cost:
$79.543 MM
Target IRR:
31.87%