Case Studies

Erik Anderson – Pacific Living Properties

Growing a portfolio of unique, renovated communities

Simply put, people are what drive the success of Pacific Living Properties and its communities. That not only includes the teams that build and manage the properties, but also the residents who make their homes there.

For more than 20 years, the company has demonstrated a commitment to multifamily investments and has extensive construction and renovation experience using in-house staff to ensure high-standard and cost-effective results, explains Erik Anderson, vice president of renovation services.

Erik Anderson – Pacific Living Properties

Erik Anderson | Vice President of Renovation Services | Pacific Living Properties

With a portfolio featuring a mix of renovated and new development projects across California, Montana and Washington, the company’s top priority is to deliver exceptional value by taking on each project with a commitment to creating quality neighborhoods and living environments, Anderson says. PLP and its people are uncompromising in their pursuit of excellence, he adds, and take great pride in their work.

“We use a collaborative team approach, listening to our clients first and foremost, then working as a team to ensure that we are successful at delivering on the project,” he explains. “We believe in doing it right the first time and we place value on careful planning, execution and excellence.”

A portfolio of thriving neighborhoods

In his nearly three years with Pacific Living Properties, Anderson has been involved in more than 20 acquisitions and managed several repositions and new builds throughout its footprint.

This includes Woodcreek Apartments, a 129-unit community located in the “Jewel of Kitsap County” on Puget Sound in Poulsbo, Washington. In the works for several years before Anderson joined, the $16 million project involved combining two side-by-side properties, building new garden-style units and renovating existing units, he says. PLP also and built a new, 3,000-square-foot state-of-the-art clubhouse; created new patio enclosures; re-sided and repainted; added washers and dryers; and upgraded unit interiors.

Erik Anderson – Pacific Living Properties

“I was lucky to be included in this project,” Anderson says. “It is one of the best properties in our portfolio and definitely a standout in the region.”

Another notable example is 3030 Lake City in Seattle. The $4 million project involved extensive interior and exterior upgrades and repairs, a clubhouse retrofit and a “massive” landscape overhaul. Now undergoing a certified green renovation, the property consists of a nature walk, dog park, fire pit and barbecuing areas, as well as a sleek, self-service package receiving center.

Other unique properties in PLP’s portfolio include The Loop in Seattle’s desirable Green Lake neighborhood (a new building with a rooftop deck and water views) and the recently renovated, 400-bed Victor Apartments next to Fresno State University.

Commitment to quality

As Anderson points out, Pacific Living Properties has a long-term approach. “Our team is always looking around the corner, because it takes both hard work and smart planning to execute a successful renovation,” Anderson says. The company instills a mindset of, “what did I miss” and a continual push to ensure the handling of all details.

Erik Anderson – Pacific Living Properties

“A lot of other management companies don’t think that way,” he says. “We go the extra mile and make sure we’re doing everything we can for the property so that the residents feel the value. It’s spending money at the right time for the right purpose, sometimes independent of return on investment. We want to create places for communities to thrive and grow.”

It’s an infectious enthusiasm, says Melissa Moore of Artco Sign Co., a Seattle company that has worked with PLP for more than 20 years.

“They’re a great team to work with,” she says. “They have great ideas, positive energy and they’re very communicative—always keeping in contact, always staying on top of everything. We love working with their entire team as they make our job easier.”

A unique opportunity

And Anderson has nothing but enthusiasm for PLP, which he joined in April 2018. His “dynamic and ever-expanding” role has him working with everyone on the corporate and on-site teams on project direction, consultation and support.

His active initiatives include: performing a portfolio-wide overhaul, fine-tuning project estimating, consolidating purchasing, creating an historic project catalog and a list of design inputs, and establishing a new protocol for providing project data such as scope, costing, tracking and timelines.

Erik Anderson – Pacific Living Properties

“We have been active in acquiring assets in eastern Washington and Montana and are looking to enter the Idaho and Utah markets,” Anderson says. And, all the while, the company is making room for this expected growth with a new, three-story, 20,000-square-foot corporate office in Kirkland, Washington, set to open its doors in 2021.

“It’s an unbelievable company and group of people to keep moving forward with,” Anderson says, crediting a well-rounded team including a vice president of construction, project managers and regional and on-site groups for this success and path of growth.

“Everybody plays a very important part in this,” he adds, “and I’m just lucky to be in the middle.

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vol IV 2024


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