Disgusting. This is what city “leaders” and uninspired developers think of Tumwater and its future—dormitories. A project this size will not provide meaningful housing to the area, just overpriced apartments that will stay that way to drive up NOI in an attempt to juice the valuation in a high cap rate environment, so they can leverage it 70-80% and just wait for inflation to drive up the price. No actual value will be created, just fiat financial tricks and malinvestment. Another giant, paved-over eyesore that destroys genuine community.
Please explain the inappropriate content below.
