By Kate Snyder
Tacoma could soon see more residential development with the recent proposal for a new multifamily community on the city’s south end. Pahlisch Commercial, a real estate development company based in Oregon, has submitted a proposal to construct a 179-unit development on a site the firm recently purchased near the Tacoma Mall, according to public information.
Located at 4218 S Steele St., the site comprises a 21,376 square foot building that used to house Kantor Diamond. The building sits on just over one acre and is currently occupied by Emergency Dental Care USA and the Making A Difference Foundation.
According to information from the city, the submittal by Pahlisch is for a proposed residential development consisting of 171 market rate units and eight live-work units at ground level along with 130 parking stalls on the first two levels. The project includes a leasing center, podium courtyard, podium-level amenities space, structured parking and bike storage, along with related landscape and hardscape elements. The property is situated at the northwest corner of the intersection of S Steele Street and S 43 Street, and the construction type for the project would be five levels of Type VA over two levels of Type IA.
Public records show that an entity affiliated with Pahlisch Commercial purchased the property in December 2022 for $6.5 million, or about $304 per square foot. The seller was an entity affiliated with Forbes Development Group, a real estate development company.
Pahlisch Commercial is a fully integrated commercial real estate development firm, according to the company’s website. The firm is part of the Pahlisch family of brands that has been in operation for more than 38 years. The company is headquartered in Bend, Ore. and has offices in Vancouver and Tukwila. The firm’s focus is on designing, developing and constructing multifamily, mixed-use and retail properties throughout the Pacific Northwest.
Much of Pahlisch Commercial’s development portfolio involves projects throughout Oregon. One of its projects in Washington is the 279-unit Imber at Union Mills, a multifamily complex in Olympia, according to the firm’s website. That development is under construction. The company also has a completed residential development in Camas. That property, the Trio Pointe apartments, has 240 units in a mix of one-, two- and three-bedrooms.
Tacoma has seen multiple residential developments announced recently.
One project from USG Realty Capital is the Market Square Apartments. The eight-story, 176-unit fully entitled multifamily project also includes ground-floor retail space. Market Square Apartments will be located at 1546 Market St., directly adjacent to the Greater Tacoma Convention Center and the University of Washington’s Tacoma campus. The property will be developed in partnership with Plus Capital Partners and is scheduled for completion in June 2024.
Another project in Tacoma is the Cornus House, a 199-unit, mid-rise multi-housing development located in the city’s downtown. The developer, Arboreal Investments, secured $34.7 million in construction financing last year for the project. Located at 2502 Pacific Ave., Cornus House will offer a mix of studio, one- and two-bedroom units.
