Ethos Development Breaks Ground on 160-unit Apartment Project in Tacoma, Washington Opportunity Zone
April 3, 2022
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- RE Business Online on 04/11/22
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Tacoma, WA – Ethos Development, a Portland, Oregon based real estate development firm specializing in multifamily development projects throughout the Pacific Northwest, has broken ground on the construction of The Moraine, a 160-unit multi-family housing development in Tacoma, Washington, its second in the city.
The 115,00 square-foot 8-story podium project includes a full suite of amenities including a fitness center, a media room, a roof deck with communal kitchen, and a billiards room. The interiors will feature a contemporary mountain lodge aesthetic and offer views of Mt Rainier and Commencement Bay from many residential units.
The project has a voluntary target of 25% minority and disadvantaged business participation during construction, a target to recycle 70% of the construction waste stream, and the building will have both on-site solar panels and a green roof. The apartments are designed to provide market-rate affordability by way of efficient floorplans and twenty percent of the units will be available to those earning no more than 80% of Area Median Income as part of Pierce county’s tax exemption program.
“The need for accessibly priced housing continues to grow in the greater Tacoma area,” says Paul Del Vecchio, Founding Principal of Ethos Development. “The Moraine will provide design-forward and convenient living at a reasonable price point; continuing our commitment to replicable market-based affordable housing solutions.”
Works Progress Architecture of Portland designed the project, Walsh Construction Co. is the General Contractor, and Ethos Commercial Advisors of Portland provided financing brokerage.
About Ethos Development: A Portland-based real estate firm active on the West coast. Every project represents a thoughtful big idea, not a one-size-fits-all solution. Primarily working in urban environments, Ethos and its design partners harness unique solutions to build high performance, low impact buildings. Unyielding attention to detail makes for inspired design, creating places where people want to be. www.ethosdevelopmentllc.com
