TACOMA, WA – USG Realty Capital, a leading investment sponsor specializing in opportunity zones, announced the details of its ground-up opportunity zone project, Market Square Apartments, as part of its Investors Choice OZ Fund, an investor-directed, multi-asset opportunity zone fund offering. The 176-unit fully entitled multifamily project, located in Tacoma, Washington, will also include ground-floor retail space. The property will be developed in partnership with Plus Capital Partners and is scheduled for completion in June 2024.
“When looking for our next qualified opportunity zone project to include in our portfolio, the Tacoma submarket stood out as an exceptional area that meets our strict standards,” said Greg Genovese, founder of USG Realty Capital. “Tacomahas strong fundamentals, with an impressive occupancy rate, rent growth rate and apartment sales volume, all of which have exceeded recent averages. We are very pleased to partner with Plus Capital Partners, a leading development firm, and to add Market Square Apartments to our portfolio.”
Located in the exceptional submarket of Tacoma, near Seattle, Market Square Apartments will be an eight-tale multifamily building located directly adjacent to the Greater Tacoma Convention Center and the University of Washington’s Tacoma Campus. The luxury apartment building will include several highly desirable amenities, such as a fitness center, storage for 184 bikes, a pet grooming area, a conference room, two rooftop amenity decks, two resident lounges with kitchen and dining and five laundry facilities.
Tacoma is a booming hub for tech startups and small businesses, due in part to its robust broadband infrastructure and convenient freeway and rail line access, which offers an simple commute to Seattle and its large regional employers. Major roadways Interstate 705 and State Route 509 are within 2,000 feet of the Market Square Apartments property. Several downtown Tacoma employers, including St. Joseph Medical Center and Columbia Bank, are just a small drive away. Additionally, the University of Washington’s Tacoma campus, ranked as one of the top pubic universities in the West by U.S. News & World Report, is expected to grow to 10,000 students in the upcoming years, potentially increasing demand for nearby housing. As it is located in one of the area’s six designated opportunity zones, the project also allows for potential tax benefits.

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ST LOUIS, MO – Aptitude Development is set to develop The Marshall St Louis, a 508 bed development across from St Louis University. The Marshall St Louis will be the 10th ground up development for Aptitude since its inception in 2014 and the 7th iteration of its Marshall brand. Construction will start this spring and be completed for Fall 2025.
Amenities at the property will include an expansive hot tub, best in market fitness facility, gaming lounge, collaborative and individual study lounges, café areas and fire pits. The Marshall will have two-tale 5 bedroom townhouses on its top floors offering some of the most unique living opportunities in the market.
“We are excited to expand our brand and bring this exciting project to the St. Louis University market. SLU has seen strong growth of its enrollment and the supply of quality off campus student housing has not kept pace,” said Jared Hutter, Founder and Chief Snow Shoveler for Aptitude Development. “The proximity to campus and to the adjacent City Foundry development make this an incredible opportunity for both Aptitude and ultimately the students who will live there”. The City Foundry, located right next door is a neighborhood transforming mixed use development with retail, restaurants, office space and residential units that locally brings much needed offerings to the SLU area as well as the adjacent Cortex Innovation District. “The Marshall St Louis is the next of a fantastic lineup of projects we plot to build in the coming years,” Hutter added.
St Louis University, founded in 1818, is a world class institution and one of the nations oldest and most prestigious Catholic Universities. With more than 13,000 students, SLU boasts more than 15 graduate and undergraduate programs ranked in the top 50 in the US.

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ALAMEDA, CA – The Housing Authority of the City of Alameda (AHA) has received $20.6 million dollars from the State of California Department of Housing and Community Development. This funding will help AHA build North Housing Senior Apartments, which is the first phase of this long plotted North Housing community development project. This senior property will include 64 affordable apartments for only seniors (ages 62 years and older) and is comprised of forty studios, twenty-three one-bedroom apartments, and a two-bedroom apartment for an onsite manager.
“The California Multifamily Super NOFA transformed a once burdensome and lengthy funding application process into an accessible and smart one-stop shop that will get more housing built quicker,” said Business, Consumer Services and Housing Agency Secretary Lourdes Castro Ramírez. “This results in new homes for struggling working families, veterans, farmworkers, and people exiting homelessness. California will continue to act with urgency to find new, innovative solutions to quick track housing development.”
In a full circle moment, the land, which was originally owned by the Housing Authority in the 1940s was granted back to the Housing Authority (in 2019) via the surplus land act by the U.S. Department of Navy. The land will now serve as the home for a senior property that houses military veterans. 25% of the residents at North Housing Senior Apartments will be veterans in need of supportive housing. “Studios and one-bedroom apartments are in very high demand in the City of Alameda,” says AHA Board Chair Carly Grob, “and fill a fantastic need for both seniors and previously homeless military veterans.”
Island City Development (ICD), an affiliate of AHA, will be the developer of this project and the Housing Authority of the City of Alameda owns the land. The architect of the North Housing Senior Apartments is HKIT Architects. Once the property opens (future opening date TBD), all leasing and property management services will be provided by FPI Management. AHA staff is actively plotting for this community development project to start construction in either late 2023 or early 2024.
North Housing Senior residents will delight in property amenities that include a community room, indoor mailroom/lobby, on-site parking, on-site laundry room, bike parking, Wi-Fi hotspot, and on-site property management. AHA’s social services partner LifeSTEPS will provide case management and resident services that connect seniors to resources like food, medical, rental help, transportation, hoarding resources, social activities, just to name a few.

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