Fourth Avenue Capital Starts Work on Washington State Apartments
The community is being built as part of a master-planned development.
Fourth Avenue Capital has started construction on Badger Heights Apartments, a 72-unit multifamily community within the master-planned South Badger Mountain development in Richland, Wash. The developer didn’t disclose an expected completion date.
Located at 3601 Grapeview St., the property will feature units ranging from 733 to 1,318 square feet in size, with a mix of one-, two- and three-bedroom floor plans. Residence interiors will have quartz countertops, stainless steel appliances, oversized windows, walk-in closets in some units and additional storage options. Some homes will also offer private backyards and private garages.
Badger Heights common-area amenities will include a clubhouse featuring social gathering spaces, entertainment areas, private workstations and coworking facilities. The community will also have a fitness center with cardio equipment, free weights and training space overlooking the pool and outdoor lawn area.
Outdoor amenities will feature a resort-style pool and spa, barbecue and dining areas, firepit lounges, green space and a dedicated dog park. As part of the 1,500-acre South Badger Mountain master-planned community, residents will have access to parks, trails, schools, as well as future retail and other service offerings.
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Richland is part of a region that also includes Pasco and Kennewick, which is known as the Tri-Cities metro region. Major employers in the region include the Hanford Site – originally founded as part of the Manhattan Project – Pacific Northwest National Laboratory, Kadlec Regional Medical Center and Washington State University Tri-Cities. The town is located in the southeastern part of the state at the confluence of the Yakima and the Columbia Rivers.
An active investor
Washington state-based Fourth Avenue Capital has acquired more than 2,000 apartments and has a pipeline of more than 500 units.
In 2025, Fourth Avenue acquired Village on Broadway, a 148-unit workforce community in Spokane Valley, Wash. American Capital Realty Group sold the asset.
Also last year, the company acquired 2121 Belmont Apartments, a 123-unit community in Portland, Ore. in a joint venture with Range Equity Management and PCCP. The seller in that deal was RREEF Property Trust.
