Wood Partners Breaks Ground on Alta University Place, Expanding Its Footprint in Washington State
UNIVERSITY PLACE, Wash., April 28, 2022 /PRNewswire/ — Leading multifamily real estate developer Wood Partners announced today the groundbreaking of its most recent luxury residential community, Alta University Place, located in University Place, an upscale suburb of Tacoma, Washington. The community is scheduled to officially open in September 2023 with pre-leasing expected to begin that summer.
Situated along the I-5 corridor, the community will be centrally located in one of Tacoma’s most thriving and sought-after suburbs, within walking distance of nearby restaurants and retailers. The premier location of the community provides direct access to downtown Tacoma and regional transit to nearby Seattle, while embracing the benefits of its immediate surroundings between the Olympic and Cascade Mountain ranges on the shores of the Puget Sound. University Place is home to Chambers Bay golf course and a variety of other parks and recreational activities and provides easy access to many of the top employers that make the Puget Sound region one of the top growth markets in the country.
“We’re excited to continue expanding our footprint in the Pacific Northwest with Alta University Place, which represents our fourth development in the state,” said Michael Nagy, Managing Director for Wood Partners. “We look forward to welcoming residents to this top-of-the-line apartment community, where they will enjoy easy access to Seattle while maintaining the comfort of neighborhood living with the community’s prime location.”
Alta University Place will offer 274 apartment homes including one-, two- and three-bedroom floor plans across nine buildings spread over more than eight acres of garden style landscape. Featuring luxurious modern design elements, each apartment comes fully outfitted with high-end finishes to welcome residents home, including sleek quartz countertops, stainless steel appliances, wood-style plank flooring, in-unit washer and dryer sets and more. Residents will also enjoy more than 4,000 sq. ft. of high-quality amenities, highlighted by a clubroom, fitness center, resort-style pool, family play areas, an off-leash pet park, and outdoor grills.
About Wood Partners
Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of more than 90,000 multifamily homes with a combined capitalization of $17.5 billion. The company currently owns 70 properties across the United States representing more than 20,000 homes. Headquartered in Atlanta, Wood Partners has offices in 22 major markets across 15 states nationwide. The company also operates Wood Residential, an award-winning, full-service property management group that proudly operates both properties developed by Wood Partners and communities owned by third parties. For two years running, Wood Residential has ranked No. 1 nationally for online reputation in the J Turner ORA™ Power Rankings (Division III). For more information, visit woodpartners.com.