Mill Creek Announces Groundbreaking of Modera Lacey

Garden-Style Community Will Add 362 Homes to Suburban Olympia Locale

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Aug 25, 2021, 11:45 ET

LACEY, Wash., Aug. 25, 2021 /PRNewswire/ -- Mill Creek Residential, a leading developer and operator specializing in premier rental communities across the U.S., today announced the groundbreaking of Modera Lacey, a garden-style community spanning 26 acres in suburban Olympia, approximately 60 miles south of Seattle.

Situated on the backdrop of intricately manicured open space and several walking paths, the expansive community will feature 362 apartment homes across 14 residential buildings and eight carriage buildings. First homes are scheduled to be delivered in early 2023.

"The Olympia market, and Lacey submarket in particular, are underrated and serve as an attractive destination for many renters," said Steve Yoon, managing director of development in Seattle for Mill Creek Residential. "The Thurston County population continues to grow, and with its proximity to all major attractions within the south Puget Sound and the Joint Base Lewis-McChord Air Force base, this area is generally regarded among the most desirable places to live within Washington. We look forward to joining the community and offering a first-class living experience."

Lacey is located along Interstate 5, between Olympia and Tacoma, and on the western edge of the Cascade Mountains. The city was rated No. 75 by Money Magazine's 2019 list of Best Places to Live, with high-performing schools, plentiful neighborhood retail, hiking and biking trails, densely-forested parklands and a 3,700-acre wildlife refuge nearby.

Modera Lacey will offer spacious studio, one-, two- and three-bedroom apartment homes with an average size of 893 square feet. Community amenities will include a resident clubhouse, co-working spaces, outdoor swimming pool, hot tub, game room, theater room, coffee bar, onsite dog park, pet spa and an outdoor deck with picnic tables and barbecue area. The community will also offer an indoor basketball court and a state-of-the-art fitness center with cardio equipment, individual TVs and a yoga/Crossfit studio. Residents will also have access to digital package lockers, onsite carports, dedicated bike storage and additional storage options.

Apartment interiors will feature wood plank-style flooring, stainless steel appliances, quartz countertops, custom cabinetry, upgraded fixtures, pendant lighting, large bedroom closets and private patios or balconies.

Modera Lacey marks Mill Creek's first development in the Thurston County submarket, although the company has developed several communities in Puget Sound. Past and current developments include Modera Broadway, Modera Overlake, Modera Redmond and Modera South Lake Union.

About Mill Creek Residential
Mill Creek Residential Trust LLC is a national rental housing company focused on the development, acquisition and operation of rental communities in targeted markets nationwide. The national company, headquartered in Boca Raton, Florida proactively develops, acquires, constructs and operates communities through its seasoned team of real estate professionals in offices across the United States. Mill Creek is building its portfolio in many of the nation's most desirable markets in Seattle, Portland, the San Francisco Bay area, Southern California, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of June 30, 2021, the company's portfolio is comprised of 111 communities representing over 31,000 rental homes that are operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.