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Alliance Residential Acquires Development Site in Lakewood
Alliance Residential has acquired a 9.69-acre development site within Lakewood Towne Center for a planned 285-unit apartment project. The project will include units designated under the City of Lakewood’s Multifamily Tax Exemption (MFTE) program.
The sale was brokered by Ross Klinger and Austin Kelley of Kidder Mathews, who exclusively represented the seller and managed the full marketing process. Situated in the heart of Lakewood’s revitalizing urban core, the project is set to bring significant residential infill to the area.
“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 project is anticipated to transform a currently underutilized parcel of land while contributing to the ongoing revitalization of Lakewood Towne Center—one of the largest retail destinations in Pierce County. The center is anchored by major retailers such as Safeway, Target, and Michaels, a 12-screen AMC theater, and it also serves as a hub for civic services, including Lakewood City Hall.
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