Mill Creek Announces Start of Move-Ins at Modera Lacey

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Mar 28, 2023, 10:00 ET

Garden-Style Community Adds 362 Homes to Picturesque Suburban Olympia

LACEY, Wash., March 28, 2023 /PRNewswire/ -- Mill Creek Residential, a leading developer, owner-operator, and investment manager specializing in premier rental housing across the U.S., today announced the start of move-ins at Modera Lacey, a garden-style community spanning 26 acres in suburban Olympia.

Modera Lacey, which features 362 apartment homes across 14 residential buildings and eight carriage buildings, sits upon an expansive backdrop of aesthetically manicured open space and numerous walking paths.

"Lacey is becoming an increasingly desirable submarket for renters as the South Sound market continues to gain popularity," said Steve Yoon, senior managing director of development in Seattle for Mill Creek Residential. "The combination of a strong employment sector, emerging population and a quieter, more scenic experience than the big city is appealing to many modern renters, and we believe Modera Lacey will quickly become a best-in-class option. We look forward to welcoming our first residents to this unique community."

Lacey is located approximately 60 miles south of Seattle along Interstate 5, between Olympia and Tacoma, and on the western edge of the Cascade Mountains. The city features high-performing schools, abundant neighborhood retail, hiking and biking trails, densely forested parklands and a nearby 3,700-acre wildlife refuge.

Situated at 5501 15^th Ave NE, Modera Lacey will place residents within two miles of multiple shopping centers and big-box retailers such as Target, Home Depot, Safeway and Costco. The community is also within a quick commute of some of the area's most prominent employers, including Joint Base Lewis-McChord, which employs between 30,000 and 40,000 servicemembers and provides 34,000 civilian jobs.

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

Apartment interiors are equipped with wood plank-style flooring, stainless steel appliances, quartz countertops, custom cabinetry, upgraded fixtures, pendant lighting, large bedroom closets, private patios or balconies, and select homes offer vaulted ceilings.

Modera Lacey marks Mill Creek's first development in the Thurston County submarket, although the company has developed several communities in Puget Sound.

About Mill Creek Residential

Mill Creek Residential Trust LLC is a national rental housing company focused on developing, acquiring, and operating 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, Phoenix, Denver, Dallas, Austin, Houston, South Florida, Tampa, Orlando, Atlanta, Nashville, Charlotte, Raleigh, Washington, D.C., New Jersey, New York, and Boston. As of September 30, 2022, the company's portfolio comprises 125 communities representing over 33,875 rental homes operating and/or under construction. For more information, please visit www.MillCreekPlaces.com.