Regional nonprofit proposes $100M apartment development next to its Tacoma headquarters

If plans come to fruition, hundreds of new apartments could be coming to Tacoma as a regional nonprofit considers re-imagining property adjacent to its headquarters.

A pre-application submitted Aug. 30 to the City of Tacoma proposes a 400-unit apartment complex with onsite parking at 714 S. 27th St. in Tacoma, owned by Goodwill of the Olympics & Rainier Region.

A Goodwill representative on Thursday told The News Tribune that plans are in the very early stages.

The pre-app’s renderings obtained from the City of Tacoma show a building on South 27th Street and another building to the south, with units ranging from studios to three-bedroom apartments.

The initial plans come with a note stating they are “preliminary and subject to change.”

According to the pre-app information online, the project has an estimated value of $100 million.

Ken Ryals is communications representative and chief advancement officer for the regional nonprofit, which serves 15 counties through retail stores and work opportunity centers.

“We are thinking through plans for how we would use this space that we have that’s right next to our headquarters here at Goodwill,” he said.

“We are planning to continue having our headquarters here,” he added, “and we are evaluating how we could potentially utilize the land that’s adjacent to the building.”

The pre-app offered an estimated timeline of initial permits to be filed in the summer of 2026, with an estimated construction start date of April 2027.

All of that is in flux, Ryals noted, “but we want to set a target date out there.”

As for where the money will come from, Ryals said, “This is early, early days of planning and so forth. So we haven’t determined any specific financing plan for this.”

The nonprofit is considering a mix of units, market rate and rent restricted. The allocation of each is to be determined.

Ryals said Goodwill’s main priority is how it can “maximize the impact of our mission” with the available land it has, such as through housing.

“We see there’s a lot of opportunity to help, so we look at this particular area of ​​Tacoma, where our headquarters sits, and there appears to be a lot of continued demand, growth and opportunity,” he said.