Lakewood property selloff over 2 years clears way for housing | Tacoma News Tribune

Over the past two years, Berkadia has facilitated the sale of nearly 30 parcels in Lakewood, generating over $9. 1 million. These strategically acquired properties aim to develop multifamily housing near the transit-oriented Lakewood Station. The seller, represented by Steve Borman, CEO of Keystone Masonry, Inc. , has pursued this vision since 1992 to create a multifamily community.

Each project is expected to add hundreds of new housing units, addressing local demand for affordable living spaces. Berkadia's managing director noted that well-located sites near transit continue to attract premium prices despite a sluggish development market. The sold parcels include developments like Lakewood Station Apartments and Kendrick Townhomes, catering to various housing needs. This initiative signifies economic activity and a long-term transformation of the area surrounding Lakewood Station, setting the stage for new residential development.