under contract

Listings/Pacific Ridge Development

Pacific Ridge Development

Contact Listing Agent

Under Contract

This listing is under contract. Please visit our Listings page to view apartment buildings and development land currently on the market.

Executive Summary

Pacific Ridge Development is an 80 unit development site located at 8445 Pacific Avenue, Tacoma, WA. This offering provides buyers the opportunity to purchase the property free and clear of existing debt.

Property Details

Address
8445 Pacific Ave, Tacoma, WA 98444
Parcels
0320332012, 0320332037, 0320332175, 0320332174
Total Site Area
80,591 SF (1.85 AC)
Zoning
C2 (General Community Commercial – City of Tacoma)

Development Details

Status
Building Permit approved; Construction can begin with Civil Engineering approval
Residential Units
80
Residential NRSF
58,318 SF
Parking Stalls
76 (Permissible reduction due to transit stop proximity)
Project Architecture
Jon Graves Architects
Civil Engineer
Contour Engineering
Market Analysis
O’Connor Consulting

Opportunity

80-UNIT DEVELOPMENT SITE sitting on 1.85 acres of flat developable land

SITE NEARLY SHOVEL READY with building permits approved for all structures (Residential buildings 1, 2, 3, Amenity building and Carriage House A)

SEVERELY UNDER-SERVED renters market in growing location. With prior new construction being delivered in 2014 (Garfield Station Apartments – 50-unit Min.), South East Tacoma is ripe for new construction

CENTRALLY LOCATED at 84th and Pacific Avenue, Pacific Ridge holds proximity to nearby transit stop, grocery, schools and local jobs.

Permitted Development

Construction can begin with Civil Engineering approval

Central Location

In Tacoma's Fern Hill neighborhood

Housing in High Demand

In this under-served location

Location

Open Google Maps

Pacific Ridge Development

8445 Pacific Ave
Tacoma, WA 98444
Units: 80 (Entitled)
Price: Pending

Location Overview

South East Tacoma offers renters an affordable escape from Tacoma rapidly growing CBD district without sacrificing proximity to all jobs and amenities Downtown Tacoma has to offer.

Pacific Ridge sits right near the corner of 84th and Pacific, located just off local commuter transit line. Rental rates in SE Tacoma have steadily increased, with supply of additional unit extremely slow to follow. Pacific Ridge’s location offers the opportunity to live in a brand new amenity rich community at a relatively affordable rate. Proximity to Tacoma current light rail and 6-spot expansion (2022), SE Tacoma is well positioned for greater economic growth.

250,499

Population (3 Mile Radius)

$72,706

Average Household Income (1 Mile Radius)

34.2

Median Age (1 Mile Radius)

Contact Us

Exclusive Listing Brokers

Kidder Mathews is the exclusive Listing Brokerage for this Offering. Austin Kelley, Dylan Simon, and Jerrid Anderson are exclusively representing the Seller in the sale of the Pacific Ridge Development.

       

Direct: 206.414.8575