An apartment development planned for downtown Tacoma is getting a financial boost. USG Realty Capital, a Silverdale-based opportunity zone investment company, announced Tuesday it was adding the Market Square Apartments to its Investors Choice OZ investment fund. USG is teaming up with Plus Capital Partners of Bellevue to develop the eight-story, 176-unit project. The companies expect the project to deliver in June 2024. The site is at 1546 Market St., the former site of Vashon Guitar Co. "When looking for our next qualified opportunity zone project to include in our portfolio, the Tacoma submarket stood out as an exceptional area that meets our strict standards," USG founder Greg Genovese said in a news release. "Tacoma has strong fundamentals, with an impressive occupancy rate, rent growth rate and apartment sales volume, all of which have exceeded recent averages.” USG said in the release that its $50 million offering, launched in 2021, has four projects in its portfolio, with investment equity targets ranging from $5 million to $10 million per project. The company cited Tacoma’s growth as well the project site’s access to broadband infrastructure, proximity to Interstate 705 and state Route 509, and the University of Washington Tacoma’s growing campus […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
