Eight-story apartment building under construction near UWT. Here are some details
Here are some details about what’s going in at the corner of South 21st Street and Fawcett Avenue.
New apartments at 1942 Fawcett Ave. are under construction, being developed by Bellevue-based Isola Homes.
According to Danielle North, media representative for Isola, “Currently, we’re expecting construction to be completed in early 2023.”
The project is not eligible for either an 8- or 12-year multifamily tax exemption, according to staff with the city.
The property “is within the UWT footprint, although privately owned. Properties within the State-defined footprint of the University are ineligible for the exemption, by State law, whether or not the university owns them,” Maria Lee, media representative for the city, told The News Tribune via email on Thursday.
“As we just started ground work on the site, we don’t have information on estimated rents just yet,” North told The News Tribune in response to questions via email.
The project is Isola’s first one in Tacoma, and it’s completed four apartment sites in Seattle “and have another 9 multifamily buildings coming soon to the Seattle area,” she wrote.
North echoed what other developers have said about the lure of the University of Washington Tacoma area.
“What initially drew us to the site was its amazing location,” North said. “It’s just a short walk from the university as well as lots of different restaurants, breweries, and shops. Plus, the neighborhood has such a great, vibrant feel to it, and we wanted to be a part of that.”
Plans call for 158 units in the eight-story building.
According to North: “The building will include low-flow plumbing fixtures in addition to Energy Star washers/dryers, dishwashers, and refrigerators as well as LED lighting. There will be a section of green roof on the roof deck, too.”
Isola purchased the property in March for $1.2 million from 21st and Fawcett LLC of Tacoma, according to county records on file.
This story was originally published July 25, 2021 at 5:05 AM.
