Portland, Oregon-based real estate development firm Ethos Development has broken ground on the multi-family housing development project named ‘Analog Tacoma’, in Tacoma, Washington, the US.
Ethos focusses on multi-family development projects across the Pacific Northwest.
Analog Tacoma was one of the first projects in the city to be funded with a project-specific Opportunity Zone fund. Portland-based capital markets broker Daniel Natsch was in charge of arranging construction debt financing for it.
Designed by Works Progress Architecture, the 115-apartment, 6,500 ft2 Analog Tacoma will be an eight-story mid-rise podium building, with the units designed to offer market rate affordability.
Ethos Development founding principal Paul Del Vecchio said: “The need for accessibly priced multi-family housing continues to grow in the greater Tacoma area. Our buildings meet a niche between luxury apartments and subsidised affordable housing, allowing for design-forward convenient living solutions at a reasonable price point.”
Works Progress Architecture founding principal Carrie Strickland said: “Analog Tacoma draws inspiration from the site’s steep slope and the area’s rich musical history by varying the massing in stepped form similar to an equalizer.
The general contractor Katerra, which provided preconstruction services, will also undertake the construction work.
PNW head of construction Kris Beason stated: “Katerra is excited to partner with Ethos Development and Works Progress Architecture on this important project that will deliver much needed multi-family housing to the Tacoma area.”
Ethos Development’s plans for the year include breaking ground on a Tacoma Opportunity Zone funded project and a Portland, Oregon Opportunity Zone project.
Works Progress Architecture is a 100% women-owned architecture and design studio based out of Portland and Los Angeles.
Analog Tacoma was one of the first projects in the city to be funded with a project-specific Opportunity Zone fund. Credit: © 2021 Ethos Development LLC. All Rights Reserved.