A mixed-use development on the southeast corner of Tacoma’s Sixth Avenue and Alder Street is moving forward.
The six-story development, now called 6th & Alder, will have 111 apartment units. Of those, 46 will be studio apartments, 48 one-bedroom apartments and 17 two-bedroom units, according to city planning documents and the developer.
The development was first detailed in city planning records in April as Marc on the Ave. The News Tribune first reported on it in May.
Kirk Rector, principal of Tacoma’s Affinity Real Estate Management, is spearheading the project, which aims to appeal to several demographics with its latest building: millennials, students, military and young professionals.
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Some studio apartments will start at $1,010 and be as small as 375 square feet — small enough to be considered microunits under Tacoma’s building code. One-bedroom units will be around 600 square feet and will start at $1,425 per month, with two-bedroom apartments starting at $2,100 per month for 800 square feet. The two-bedroom units top out at 1,100 square feet, according to an email from Rector.
Mixed-use buildings are becoming more common in Tacoma. Several are either under construction or in planning stages for the Stadium District, Tacoma’s Proctor neighborhood and in the Hilltop above University of Washington Tacoma. Another development under construction near UWT offers micro-units.
Regional planners estimated last year that it will take 360 developments the size of Proctor Station to accommodate Pierce County’s population growth by 2040.
Tacoma itself gained national attention earlier this month as one of the top 10 places in the nation for apartment investors, according to lender Freddie Mac.
City records show the development will include 113 ground-level and underground parking stalls, to be used by customers and residents.
The building will also have a rooftop deck with seating area, a fitness center, bicycle storage and two electric car charging stations, according to an email from the company.
The existing Trapper’s Sushi restaurant on the corner will be demolished. Demolition could begin as early as May or June, according to an email from the company, with project completion in the third quarter of 2018.
Restaurant owner Trapper O’Keeffe said employees at the Sixth Avenue location could move to a Trapper’s Sushi in Parkland’s Garfield Station, near Pacific Lutheran University, which Rector also helped develop. O’Keeffe estimated that move could occur in March.
Trapper’s Sushi has signed a long-term lease for the anchor tenant spot in the Sixth and Alder building, a 3,600-square-foot space that will more than double Trapper’s footprint from around 50 seats to around 110 to 120 seats, O’Keeffe said.
The new store will have a roughly 20-seat sushi bar and a 10-seat liquor bar with additional seating for bar patrons, he said.
Customers will be able to park in several designated spots at the building, he said.
Another 3,000 square feet remains available for other retailers, Rector said.