2520 41st Street
Tacoma, WA 98409 South Tacoma

Positioned directly adjacent to the redeveloping Tacoma Mall, this 172+ unit garden-style multifamily development site offers a rare opportunity to capitalize on one of Tacoma’s most dynamic retail corridors. The property spans over 187,000 square feet and is zoned UCX STGPD, allowing for high-density residential development with no cap on units and no mandatory affordability constraints. With a minimum density requirement of 40 dwelling units per acre and no development impact fees, the site is primed for efficient and profitable construction. The location benefits from immediate access to I-5 and SR-16, placing residents within minutes of downtown Tacoma, Fircrest, and University Place. The surrounding area is undergoing a transformation, with the Tacoma Mall evolving into a premier shopping and dining destination, enhancing the appeal for future tenants. Multifamily Tax Exemption (MFTE) incentives are available, further boosting the financial viability of the project. An additional contiguous 0.73-acre parcel is also available, offering potential for expanded development or phased construction. This site is ideal for developers seeking a high-visibility, transit-accessible location with strong demographic fundamentals and minimal entitlement barriers.