A new apartment building in downtown Vancouver called The Adera will soon rise from a city block that formerly housed the Boomerang Therapy works in downtown Vancouver, between Washington and Columbia Streets and West Fourth and Fifth streets. (Hurley Development)Photo Gallery
A new apartment building will soon rise from a parcel that formerly housed Boomerang Therapy Works in downtown Vancouver, just south of the Smokin’ Oak.
The Adera by Hurley Development will encompass the entire block between Washington and Columbia streets and West Fourth and Fifth streets with 186 apartment units and ground-floor retail. It will have 124 internal parking spaces and 18 street parking stalls, according to plans submitted to the city.
The official groundbreaking will happen in about two weeks, and the project is expected to be finished in 2024, according to Jason Ritchie, director of innovation and creative at Hurley Development.
“For us, what we love about this location is it’s a thread between the waterfront and the downtown Vancouver business sector. The new market and ZoomInfo building: thousands every day. It’s here for those professionals. It’s an upscale, sophisticated, cozy building with smart technology.”
Ten Talents Investments 9 LLC, owned by Ryan Hurley, bought the property in 2016 for $2.6 million. Hurley had planned to build a hotel on the site until the pandemic hit, leading the company to pivot to apartments; Ritchie said that there is a need for 15,000 apartment units in the area.
The property takes advantage of the city’s Multifamily Tax Exemption program; the building will include 38 units that will be priced at no more than 30 percent of the Area Median Income for eight years.
“The lot was underused and it underserved the community,” Ritchie said, and once it’s done, he expects it “to be active as well. We’re expecting it to have a lot of life.”
