Vista Residential Partners, a national multifamily development firm, has broken ground on 9 acres on N 72nd Avenue in Vancouver, Washington for the development of One26 Vista, a 238-unit multifamily development. Krevolin & Horst, LLC, of Atlanta, Georgia, represented Vista Residential Partners in the closing.
Located on NE 72nd Avenue, Vancouver, Washington the area has experienced rapid population growth predominantly driven by single-family development. To support the population growth, Clark County is currently constructing Curtin Creek Park, which is expected to include parking, walking trails, picnic shelters, restrooms, playground equipment and field areas. Curtin Creek Park will provide a gathering place for the community with a range of active and passive recreational opportunities.
Clark County Washington has seen significant economic development due to a low tax and business-friendly environment. The lack of a corporate or individual income tax has attracted many businesses to either start or relocate to the Vancouver area. Economic development efforts have focused on technology and life sciences with leading companies.
With approximately 3,000 students on its 350-acre campus, Washington State University (“WSU”) is located 3.5 miles from One26 Vista. WSU supports local economic development with research and training for high-tech jobs; over 95% of the graduates remain in Clark County. The larger WSU system is one of 108 top-tier research institutions in the United States.
“We think the Vancouver area has been the bright star in the Portland MSA. We expect to see continued growth and in migration to the area,” says Lee Novak, Chief Development Officer of Vista Residential Partners. “We are excited to provide high quality and highly amenitized multifamily housing to the area.”
Community amenities of One26 Vista will include a luxury clubhouse, fitness center, pool, hot tub, enclosed dog park, package concierge and more.
“We’re excited to partner with PCCP and Principal Asset Management to develop one of the only institutional-quality projects in the area,” says Scott Hartley, chief investment officer of Vista Residential Partners. “We believe One26 Vista’s modern, design-forward aesthetic will offer residents an elevated living experience.”
