By Kate Scriven
With interest, Thurston County residents have been watching the progress and changes happening along Columbia Street between 4th and 5th Avenues in downtown Olympia. The construction of the 123-4th building is the first of its kind in recent years, signaling what many hope will be a revitalization of the downtown core.
Along with excitement for this large-scale project come many questions about what to expect when the wrapping comes off the building. While the project developers are located in Seattle, they have partnered with Prime Locations, a local commercial real estate firm, to ensure they are building something that is a good fit for Olympia. “The builders and investors are looking to Prime to be the local voice in the project,” says Zach Strong, vice president of Prime Locations. “The development/investment team has been a pleasure working with every step of the way.”
Founded in 1988, Prime Locations manages over 1,000 apartment homes and approximately a million square feet of commercial space in Thurston County. “It’s a misconception many people have that we own and operate these properties,” explains Strong. “We are hired to represent the property owners and manage the properties and their tenants.”
Strong is the project lead for 123-4th and recently shared with ThurstonTalk the project details, including a sneak peek of the amazing views from nearly every window during a guided tour of the construction site. The building was designed to maximize those views with exterior walls set on unique angles affording nearly every unit a view of lake, mountains, and sound.
“One goal of the project,” says Strong, “is to create as many local jobs as possible.” And, anyone who has driven past the job site can attest to the army of workers needed to take on such a complex project. Additionally, the entire building is green built with LEED (Leadership in Energy & Environmental Design) certification, a priority for many potential tenants and for the city. Economic stimulation for the county comes not only during the construction phase, but with the completion of the project. New businesses and residents at 123-4th will bring fresh excitement, vitality and dollars to downtown Olympia.
The building’s ground floor includes the main lobby – a two story entry with stairs to second floor offices. This floor also includes three large retail spaces, fronting onto 4th Avenue. One space is confirmed as the newest location of upscale noodle house, Kukai Ramen and Izakaya. The other two spaces are not yet confirmed, but Strong sees potential for a neighborhood cafe or deli serving the residents of 123-4th as well as downtown visitors. Completing the ground floor will be a covered public access parking area.
The second floor will house several office suites suitable for small businesses looking for centrally located downtown space. A secure, gated parking garage for tenants, including 138 bike lockers, fills the remainder of the second floor. “The building design really caters to those who want to have an urban lifestyle, using a bike instead of a car and walking for their shopping and entertainment,” explains Strong. With a variety of retail shops, grocery stores, restaurants, and theaters within walking distance, 123-4th is situated perfectly for urban living.
The third floor holds the first apartments along with amenities shared by all the tenants. Most noticeable is the enormous outdoor patio and entertainment space. The building, starting on the third floor, is horseshoe shaped. Apartment homes wrap around the outdoor common space creating a sense of privacy. Upon completion, the area will include barbeque, landscaping and seating. Third floor apartments may not have views quite as spectacular as the upper floors, but they boast direct access through sliding doors to the patio, extending the living space considerably. The third floor also houses a well-equipped gym and a common room available for all tenants to use for larger gatherings and parties.
Floors four through seven house the remainder of the 138 apartments. Units range in size from a 434-square-foot studio to 1,109-square-foot two bedroom and two bathroom spaces. One two-story, townhouse style unit boasts 1,377-square-feet with amazing views. Prime Locations is serving as the property management company and is currently pre-leasing apartments for the March 1 opening. Being involved with the project from its inception allows Strong and his team to advise potential tenants on the building’s features and what units might best serve their needs.
The team at Prime Locations is excited for what 123-4th means for Olympia. “This project is going to transform everything in downtown over the next 10 to 20 years,” shares Strong. “You can’t beat where we live for access to water, mountains, and culture. Investors are paying close attention to Olympia and to this project.”
Interested in downtown Olympia living? Units are already renting with 12 month leases. “We have about 20% of the units pre-leased,” shares Strong, and he’s optimistic that the building will fill quickly. Check out the unit floorplans here. Tenants on floors six and seven begin moving in on March 1, 2016 with lower floors just three weeks later.
“Our sincere hope is that this is a positive addition to the community,” says Strong. “Being involved in this project from inception to lease up is a first for us and we are excited to be a part of this new phase for Olympia’s downtown.”
To learn more about residential apartment rental or office space leasing at 123-4th contact Zach Strong at Prime Locations at zstrong@primelocations.com or 360-943-9922.
