From what used to be the Boomerang Therapy Works building in downtown Vancouver, Washington a new building will rise. It is Hurley Development’s new project, an apartment building called the Adera. The director of innovation and creativity at Hurley Development, Jason Ritchie shared, “For us, what we love about this location is it’s a thread between the waterfront and the downtown Vancouver business sector. The new waterfront market and ZoomInfo building will bring thousands of people to the area every day. Adera is here for those professionals. It’s an upscale, sophisticated, cozy building with smart technology embedded to make the experience better.” 

Location

Adera’s location is one of its key highlights as it sits in the nexus between two different neighborhoods – the beautiful new Vancouver Waterfront and the downtown core business district. It’s both an extension of the downtown and a part of the waterfront community. According to Hurley Development, Adera will exemplify casual sophistication. Offering an upscale standard of living to its residents, it will be a community where residents will feel at home.

Adera is being simultaneously constructed with another key Hurley Development called HQ Vancouver, which sits near the Columbian River at the eastern-most part of Vancouver. Hurley Development has been taking advantage of the natural surroundings in Vancouver. Hurley’s design philosophy at HQ Vancouver blends structures with the surrounding natural features, for a seamless experience for their residents.

Emphasis on Community

Emphasizing community is central to the vision of Ryan Hurley, Hurley Development’s president, and founder. He has been in the commercial real estate industry for nearly two decades. He is a native of Vancouver and at the core of his company he wants to promote the advancement of the city he grew up. “I didn’t just want to establish ourselves as a premier commercial real estate development company, but to also make a positive impact on Vancouver and the surrounding community we serve, and it is still the heartbeat of our company today. I love to build and manage projects that make an impact, and work with people and businesses to make communities better,” he told Ideamensch.

Hurley Development’s founder’s vision is reflected in the mission statement of the company: “Bring Life”. And this is exactly what the company is striving for with its latest project, the Adera. This apartment building will span an entire block between Washington and Columbia streets. It will include 186 apartment units, 124 internal parking spots, and 18 street parking spots, with 6,000 square feet of retail at the base of the building. Adera is a welcome addition to Vancouver as the city needs 15,000 apartments, Ritchie said. “The lot was underserving our community,” said Ritchie. He expects the project to make the area more lively.

Amenities

Adera advances apartment living by encouraging inclusivity. Even though the apartments are positioned as luxury or upmarket, the feel of it is anything but exclusionary, something that is common with many luxury offerings. Adera’s philosophy of causal sophistication means that its residents can enjoy the greatest standard of living without compromising on the community. When completed, Adera will boast some of the best apartment community amenities in Vancouver. Some of these amenities include a fitness center, club room, courtyard, coworking spaces, and community gathering spaces.

Designed by some of the leading architects in the region, the courtyard and the community gathering spaces will bring the Adera residents together. The courtyard will be equipped with firepits, barbecues, and built-in green spaces. The main lobby also serves as a beautiful gathering space, and a part of it can also be used as an event space. The coworking spaces similarly promote community by providing a place for collaboration. 

The fitness center and club room cater to the needs of individuals and families. Offering state of the art fitness equipment and a large open space, residents will also be able to register for personalized training or group classes. The Adera club room provides an ideal space that can be used for anything from business meetings to birthday celebrations. 

Current Status of Project

The official Adera groundbreaking happened earlier this year, in June 2022. Hurley Development plans to complete the project by 2024. Groundbreaking of the project was attended by Hurley Development’s project partners, including Talents Construction LLC, and LSW Architects. “We're incredibly excited to mobilize this great project for Vancouver and amplify this bustling pocket of our city, a growing social and economic connection between the Waterfront and Vancouver's central business district,” the company shared. 

Construction is slated to be completed in early 2024. “I have a sense of urgency and a strong desire to keep things moving and get things accomplished, and those two things help keep me and our projects and teams moving forward,” shared Ryan Hurley. After years of being in commercial real estate, he understands the importance of delivering quality projects within tight timeframes. Urgency has never resulted in a compromise on quality as in its decade-long history, Hurley Development has completed dozens of projects while adhering to the highest standards of quality.

Business Details

The former Boomerang Therapy Works building was acquired by Hurley. Originally slated as a hotel project, the pandemic caused a change in plans and the company had to pivot and design a new building as a block of apartments and move forward as efficiently as possible, while working closely with the project’s ownership group. 

The old building was demolished and work continues on site. The project takes advantage of Vancouver’s Multifamily Tax Exemption program. This program has been designed to incentivize developers to construct apartments. This program is only available to developers creating housing in the Fourth Plain Corridor and the Vancouver City Center. The MFTE is approved by state law and will provide developers with an 8, 10, or 12-year exemption from taxes of the approved value of the rehabilitated or newly constructed housing if they agree to offer a percentage of accessibly-priced apartments.