Sneak peek at 123 4th Apartments in downtown Olympia
In case you missed it, there’s a new seven-story apartment building in downtown Olympia.
A ribbon cutting is tentatively slated for next Friday (May 6) at the 123 4th Apartments, a 138-unit building on Columbia Street between Fourth and Fifth avenues. Construction crews are working to finish the building in the next couple of weeks.
Renters are already lining up. Property manager Justin Kelley wouldn’t disclose how many units have been leased so far, but said “I’m happy with the number.” He is working with residents on a potential move-in date.
One prospective renter, Jackie Backhaus, visited one of two furnished model units Friday afternoon. The Hawaii resident is looking for a place in Olympia where she and her husband can live closer to family.
Aside from new appliances and hardwood floors, the apartments come with stunning views of downtown Olympia. The balcony from one sixth-floor unit overlooks Capitol Lake, Heritage Fountain and Budd Inlet. Many south-facing units on the fifth floor or higher include views of Mount Rainier.
“You really have a decent view no matter what,” Kelley said of the market-rate apartments, which are seen by many as a turning point for downtown Olympia because of the influx of residents they will house. “Now we just need to talk Olympia into getting a tech company down here. Then we’re on our way.”
The building’s first two floors provide parking. The living units on the remaining five floors come in a variety of sizes and floor plans ranging from studios with one bathroom to an apartment with two bedrooms and two bathrooms.
Sizes range from 394 square feet to more than 1,100 square feet. Rents are listed as low as $709 for the smallest unit to $2,691 for the largest. There is one 1,377-square-foot townhome unit that’s renting for $2,569 per month, according to a website for the building.
Two other major residential projects are opening this year in downtown Olympia: the 43-unit Cascade Lofts near the east Capitol Campus and the 36-unit 321 Lofts at Franklin Street and Legion Way.
The city’s goal is to boost investment downtown by providing more housing. The city is planning for 20,000 new residents in the next 20 years, including 5,000 more residents living downtown.
This story was originally published April 29, 2016 at 3:36 PM with the headline "Sneak peek at 123 4th Apartments in downtown Olympia."