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Tag: Federal Way

Skyline Apartments work starts on Federal Way

Skyline Apartments construction started in July on Federal Way. Photo by Teya Vitu.

Three years in the works under two successive development groups, the 192-unit Skyline Apartments started construction in late July on Federal Way in front of the Overland Post Office.

Skyline Apartments upon completion in October 2019 will sit at the edge of the Boise Bench, overlooking southeast Boise and the Boise foothills.

The complex will have nine three-story residential structures and a clubhouse. There will be 78 one-bedroom units, 90 two-beds, and 24 three-beds, according to permit filings with the city of Boise.

PETRA Inc. of Meridian is the general contractor.

A southern California group acquired the 7.89 acre property and existing architectural plans at a June 2017 auction for $1.893 million, nearly double the assessed value at the time of $989,600.

The Ada County Assessor’s Office lists RTA Skyline LLC as the owner of the 2120 Hudson Ave., where Skyline is being built. The limited liability corporation tracks back to Trinity Property Consultants of Irvine, California.

Trinity Property Consultants manages more than 23,000 apartment units in about 103 apartment complexes in 16 states, including 12 in Washington, one in Oregon and 10 in Colorado.

Skyline Apartments will have nine three-story structures and a clubhouse. Image courtesy of PETRA Inc.

City permit applications list the applicant as San Francisco-based FPA Multifamily, which has the same address for its Irvine office as Trinity Property Consultants. FPA has invested in 500 apartment properties with more than 100,000 units in 22 states.

Officials at FPA Multifamily have not responded to numerous requests for an interview.

Skyline Apartments dates back to an original April 2015 submission to the city from Boise developer Jim Conger on property then owned by Citadel Storage. The property and The Architects Office plans for Conger were auctioned off in June 2017 with RTA Skyline the winning bidder in a heated auction.

FPA Multifamily is using the original architectural plans, though it has made several changes, including the addition of three-bedroom units and a swimming pool. The complex was reduced from 196 to 192 units, according to city documents.

SoCal apartment managers are buyers of Federal Way property

A southern California apartment management firm owns the 7.93 acres in front of the Orchard Post Office (rear). File photo.
A southern California apartment management firm owns the 7.93 acres in front of the Orchard Post Office (rear). File photo.

The unnamed party that placed the winning $1.893 million bid on undeveloped Federal Way property in front of the Orchard Post Office is a southern California apartment management firm.

Trinity Property Consultants, based in Irvine, Calif., ultimately bid twice the assessed value of the 7.93 acres in a June 21 auction that included complete architectural plans for a proposed 196-unit Skyline Apartments that were never built.

Trinity Property Consultants manages more than 23,000 apartment units in about 103 apartment complexes in 16 states, including 12 in Washington, one in Oregon and 10 in Colorado.

The Ada County Assessor’s Office lists RTA Skyline LLC as the new owner of the 2120 Hudson Ave. property along Federal Way.

Michael B. Earl is listed as the manager of RTA Skyline LLC with the same Irvine address given as for Trinity Property Consultants, where Earl is president and chief operating officer. Earl has not returned several Idaho Business Review phone messages for an interview.

The property is assessed at $989,600 by the Ada County Assessor. RTA Skyline’s anonymous bidder and Corey Barton, the Treasure Valley’s largest homebuilder, deliberated extensively once bidding reached $1.625 million.

The new owners have submitted no project to Boise Planning & Development Services.