Hailey apartments in Tacoma completes construction

Cypress Equity Investments, a national multifamily developer headquartered in Los Angeles, has completed construction of Hailey, a 186-unit apartment community in Downtown Tacoma.  Located at 1210 Tacoma Avenue South, the building is adjacent to the main branch of the Tacoma public library and is a 10 minute walk to the Commerce Street light rail station.  The completion comes as Tacoma has become one of the most competitive apartment markets in the county.

Tax records show that the 32,500 square foot parcel was purchased from the City of Tacoma in 2017 for $750,000, with a covenant to promote contracting with local & small businesses, and to provide parking for the library.

Construction began in late 2017 and the building received its certificate of occupancy in October of 2021.  Amenities include a rooftop deck with harbor and mountain views, lounge seating, BBQ stations and fire pits; bike storage; co-working space; a pet spa; and a fitness center.

Currently available units include studios of 484 square feet for $1,546 / month, up to 2 bedroom / 2 bathroom units of 1,113 square feet for $2,981 / month.  Kitchens have quartz countertops, stainless-steel appliances, and tiled backsplashes. All apartments have in-unit washer and dryers, and select apartments have private balconies and outdoor terraces.  The parking garage contains 212 spaces and there is 1,965 square feet of street-level retail.

Hailey was designed by Studio19 Architects.  The Rush Companies, of Gig Harbor, WA, was the project’s general contractor.  Greystar is the property manager.