By Meghan Hall
Construction is well underway on a new residential tower in Tacoma, which like many Puget Sound cities is seeing growth. The project, spearheaded by Seattle-based Pillar Properties, will total 247 units upon completion.
Located at 415 St. Helen’s Ave., the project is valued at about $64 million according to Osborne Construction Company. The development will also include four levels of parking, a rooftop common area, hotel-inspired entry lobby and a sports and recreation area. Many apartments will overlook Commencement Bay, and the project is within walking distance of the Tacoma Link Light Rail line.
Also nearby is Wright Park, Tacoma General Hospital, and local shops such as Zen Ramen, Corina Bakery, Doyle’s Public House and Le Sel Bistro. Old Town Tacoma is located to the North, while other attractions, such as the Tacoma Art Museum and the Museum of Glass, are located to the South.
Designed by Ferguson Architecture, the project will be modern in nature. The building will be clad in contrasting, neutral colors on the outside, while the unit interiors will feature wood-like laminate flooring, white countertops and backsplash tiles, and exposed metal decking paint.
Once complete, the project will add to a number of other residential projects coming to market. In January, GIS International Group and DMG Capital Group broke ground on Tacoma Trax, a 115-unit apartment community in Tacoma’s Dome District. Also in January, Cypress Equity Investments finished building “Hailey,” a 186-unit community at 1210 Tacoma Ave. S. The project was Cypress Equity’s first in Tacoma, and the company has plans to continue building in the neighborhood in the future.
Pillar Properties is a family-owned and operated developer that “builds meaningful and lasting relationships with local communities,” according to its website. The firm is one of the oldest in the Puget Sound, with ties to the region dating back more than 125 years.
“Our goal is to design environments that embrace the neighborhood and create an iconic presence in the area,” states the firm on its website.
To date, the firm has developed more than 7,000 units worth $2 billion, and it currently has about 1,867 units under management. Assets within the company’s portfolio include The 101, located in Kirkland, Wash., and completed in 2010, The Century, a 258-unit apartment in Seattle, and The Meyden, a 254-unit community in Bellevue.
As of this writing, Pillar Properties had not yet returned The Registry’s request for comment.
