Mill Creek Residential breaks ground on 290-unit Des Moines project

Modera Woodmont Beach in Des Moines will have six residential buildings totaling 290 units when completed. EDI International

By Shawna De La Rosa – Reporter, Puget Sound Business Journal

Mar 24, 2026

Story Highlights

Mill Creek Residential broke ground this week on a 290-unit apartment development in Des Moines.
The first phase will begin leasing in late 2027.
Mill Creek acquired the property for $5.75 million through a receivership sale in March.

Mill Creek Residential is set to break ground this week on a 290-unit apartment development in Des Moines, advancing a long-anticipated project on a site that has been slated for multifamily housing for years.

The first phase is expected to begin leasing in late 2027, according to Meredith Holzemer, managing director for Mill Creek’s Seattle market. The development, called Modera Woodmont Beach, will be constructed on an 8-acre site at 26915 Pacific Highway S.

Plans call for six five-story residential buildings and a clubhouse totaling nearly 360,000 square feet, along with 7,500 square feet of retail space. Amenities will include a pool, pool deck and fitness center. The site will also feature 400 parking spaces.

Construction costs are projected at $57.8 million, according to city records.

The project received formal approval last summer. In July, Mill Creek and the city of Des Moines entered into a development agreement allowing construction of market-rate apartments with one-, two- and three-bedroom units.

The development team includes EDI International; architect; ESM Consulting Engineers, civil engineer and landscape; Carter Quinn Norlin, structural engineer; and Jordan & Skala Engineers, mechanical, electrical and plumbing systems.

Mill Creek, a national real estate investment trust, acquired the property for $5.75 million through a receivership sale in a deal filed March 16. Resource Transitions served as receiver.

The site has a complicated history. An entity affiliated with Michael Lai and Michael Mattox purchased the property in 2017 for $6 million and planned a similar development. However, multiple contractor liens were filed and the project stalled.

The property fell into arrears in 2023, and a group of private investors secured a $30 million judgment against the partners in May 2024, ultimately leading to the receivership sale.

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