Alliance Residential Acquires Development Site in Lakewood
Alliance Residential has acquired a 9.69-acre development site within Lakewood Towne Center.
The sale was brokered by Ross Klinger and Austin Kelley of Kidder Mathews, who exclusively represented the seller and led the full marketing process. The site is slated for a 285-unit apartment project that will include units under the City of Lakewood’s Multifamily Tax Exemption (MFTE) program.
Located in the heart of Lakewood’s revitalizing core, the project represents a significant residential infill opportunity. “In a market where most multifamily projects are stalled or shelved due to high interest rates and construction costs, our client was able to secure a full-price exit to a top-tier developer,” said Klinger.
The upcoming development is expected to activate a currently underused parcel and enhance the overall vitality of Lakewood Towne Center—one of the largest retail destinations in Pierce County. Anchored by Safeway, Target, Michaels, and a 12-screen AMC theater, the center also houses Lakewood City Hall and other public services.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout