Exit133 is about Tacoma
Tacoma Mall: Desirable, Walkable Neighborhood?
The developers of the new Pacifica apartments are betting that a strong rental market in Tacoma, along with shiny new amenities and views of the mountains will help them fill the pair of 177-unit apartment towers going up next to the Pine Street entrance to the Tacoma Mall. And they don’t think proximity to the shopping and dining opportunities of the mall hurt, either.
According to the TNT:
It represents a growing trend in urban America where developers are laying wagers that the synergy of close-by shopping and dining as well as a well-developed infrastructure will make the new housing a magnet for residents.
The area around the mall is attractive to developers because, as a mixed-use center, it qualifies for the City of Tacoma’s Multi-Family Tax Exemption Program, making development cheaper, with the goal of encouraging higher-density development in the City’s mixed-use centers. The rates at the Pacifica are comparable to those found at Thea’s Landing on the Foss Waterway, and the Copperline apartments at Point Ruston, but the developers seem confident in the strength of Tacoma’s rental market.
We never thought of the mall as a desirable, walkable mixed-use neighborhood…
Do you want to help the folks at Exit133 pay our bills and keep up with of all things Tacoma? Do you want to see even more coverage? Exit133 has always been free to read and comment, and it will stay that way. However, over the years, readers have contributed to the bank account to help us keep up our coverage of goings-on around town. Contribute and this message disappears!Support Exit133