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.
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By GlobalDataThe 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.
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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.
