Cypress Equity Investments (CEI), a national multifamily developer, has finished Hailey, an apartment community in Tacoma’s historic Stadium District. The 186-unit complex, located at 1210 Tacoma Avenue S. at 13th St., commenced work in late 2017 and is scheduled to open in October 2021. Hailey, designed by Seattle’s Studio 19 Architects, has studio, one-, and two-bedroom floorplans. Among the main facilities is a rooftop amenity deck with lounge chairs, barbeque stations, and fire pits.
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According to tax documents, the 32,500-square-foot lot was acquired from the City of Tacoma in 2017 for US$750,000, with a commitment to encourage contracting with local and small companies and to provide parking for the library. Currently available condos range from 484 square feet for US$1,546 per month to 1,113 square feet for US$2,981 per month for 2 bedroom / 2 bathroom homes. Quartz worktops, stainless steel equipment, and tiled backsplashes are common features in kitchens. All apartments include in-unit washers and dryers, and some have private balconies or outside patios. There are 212 parking spots in the garage and 1,965 square feet of street-level shops.
More on Hailey apartment community, Tacoma, Washington
“At CEI, we have been aggressively increasing our development portfolio in key cities across the country, so the Pacific Northwest was a natural target market for us.” Hailey was a once-in-a-lifetime chance that couldn’t be passed up. Hailey, who was already entitled and under construction, needed an investment and development partner. And with our help, we were able to bring this exquisite property to completion,” stated Michael Sorochinsky, CEI’s founder and CEO. CEI executives stated in a statement that they are pleased with the relationship they have formed with the city of Tacoma. The firm stated that it is constantly looking for future development prospects in the local area as well as the wider Puget Sound region.
