Goodbye former Proctor bank branch, hello apartments: Here’s what’s being considered
The answer to what’s next for a former KeyBank location in Tacoma’s Proctor District came with a development pre-application submitted to the City of Tacoma this month.
On Oct. 15, plans were filed for a 93-unit, six-story site planned for 3917 N. 26th St. The site is at the corner of North 26th and North Madison streets.
The location formerly was home to KeyBank, which closed this spring among several KeyBank site closures nationwide.
County records show the site was purchased in May by an LLC affiliated with The Rush Companies of Gig Harbor, the same developers behind other Proctor apartment projects, including Proctor Station, Madison25 and Proctor Flats.
The LLC purchased the site for $2.5 million, which had an appraised value this year of just over $1.7 million.
According to information in the project’s feasibility plan, 67 parking stalls are proposed for the development. There will be just over 2,000 feet of commercial space along with a leasing office/lobby on the side facing North 26th Street.
The proposed units range from studios (358-460 square feet) to one bedroom/bath (576-649 square feet). Early plans show a roof deck with pickleball court and a pet area.
The project, according to the pre-app, is valued at approximately $23 million, with a construction start listed as October 2025, though those dates routinely change from the initial submission.
No further details were immediately available on Monday.
This story was originally published October 21, 2024 at 1:13 PM.
