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California Developer Buys Chelsea Heights Apartments

‚ÄčA California-based apartment developer is investing in Tacoma’s real estate market.  The News Tribune reports that San Diego based ColRich has purchased Chelsea Heights, and made an offer on the Albers Mill apartments as well.  

According to the TNT, the group paid $18.8 million for the Chelsea Heights development at the corner of South 6th  and J, and is eyeing other Tacoma properties as well.  The Chelsea Heights website still looks like they’re targeting UWT students…

Chelsea Heights is located within minutes of quaint shops, theaters and a growing list of world-class restaurants in the Stadium District, Downtown Tacoma and the vibrant 6th Avenue corridor! Visit UW Tacoma Campus or stroll through Wright Park. Be a part of the hustle and bustle of city living and convenience, while putting down roots in a charming community.

Maybe it’s time for a shift in marketing strategy…  (seriously, where are the people in these pictures supposed to be?)

The TNT story credits news that State Farm is opening an office in Tacoma, along with Amazon’s plans for DuPont and soldiers returning to JBLM for creating a strong enough real estate market to interest an out of state investor like ColRich.  


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Comments

JesseRegistered

One block from the proposed streetcar route.

May 28, 2013 at 5:41 pm / Reply / Quote and reply


ADM

The Chelsea has an ongoing rat problem.
The people in the photo do not represent a cultural slice of Tacoma.  And that’s the way the marketing agency wants it.

May 28, 2013 at 6:28 pm / Reply / Quote and reply


James

Chelsea Heights has to be the most ridiculous looking housing building in all of Tacoma.  In hindsight, it’s a great physical manifestation of the insanity of the housing market at the time.  Hopefully, a style of building and a false economy that will not be repeated.

May 29, 2013 at 9:36 am / Reply / Quote and reply


Erik BRegistered

Chelsea and Hanna Heights were two of the rare competed projects of Prium during the last boom in Tacoma. 

Built to the edge of the sidewalk with significant housing above and offices on the first floor, Chelsea Heights is one of the best buildings constructed buildings over the last 30 years in Tacoma where strip malls and suburban housing developments have been the norm.

Hopefully, more of the “medical mile” folks will want to live in the area rather than just commute to Tacoma, park in the parking lot moat around the hospital and drive out to their home in the suburbs.

June 1, 2013 at 9:39 am / Reply / Quote and reply


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