With supply still tight, these Bellingham apartment projects are being considered
A steady stream of apartment construction projects continue to go through Bellingham’s building permit process as vacancy rates remain tight throughout the city.
The city’s development dashboard indicates more than 1,200 multifamily units are currently under construction, while nearly 800 units are in permitting. The website indicates 189 single family homes are under construction while 160 are in permitting.
The flurry of apartment construction is attempting to meet the pent-up demand around the city. According to the University of Washington’s spring 2021 apartment survey, Bellingham’s apartment vacancy rate was under 1%. Typically a balanced market has around a 5% vacancy rate.
That’s led to an increase in apartment rent. Zumper, which tracks apartment rent prices, estimates that the median asking rent rate for a one-bedroom apartment in Bellingham is $1,250 a month, up 10.6% from a year ago. The median asking rent rate for a two-bedroom in Bellingham is $1,500 a month, up 10.3% compared to a year ago. The one glimmer of good news for renters is Bellingham median rent is less expensive than nine cities surveyed, including Everett, Tacoma and Olympia.
Here’s a look at some new apartment construction projects at the beginning of the permitting process:
▪ Two projects right next to each other are being proposed in downtown Bellingham. One project at 1025 Billy Frank Jr. St. is planning to demolish four single-family homes to make way for a four-story, 20-unit apartment. The second project, on the 600 block of East Maple Street, would demolish a two-story apartment for a new 13-unit multi-story residential building.
A public meeting is being held via Zoom to formally introduce the two projects. The Zoom meeting starts at 6 p.m. on Thursday, Aug. 5. Details about the Zoom meeting and other contact information can be found on the city’s website.
▪ A three-story, 14-unit apartment building is being proposed at 4168 Aldrich Road, near the BioLife Plasma services building. The project would require the demolition of a single-family home.
A public meeting is being held online via Zoom at 6 p.m. on Wednesday, Aug. 11. Details about the meeting and other contact info can be found on the city’s website.
▪ A four-story residential building with commercial space for a children’s daycare business is being proposed at 188 Prince Ave., on a vacant piece of property near several other residential buildings. Details about the project can be found on the city’s website.
