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Legacy Partners and Silverpeak Real Estate Partners Secure $24 Mil Construction Loan for WA Res Project

2/27/26

Legacy Partners will develop a 138-unit, garden-style apartment community to be called Ravine Ridge in Port Orchard, WA. Legacy and venture partner Silverpeak Real Estate Partners have acquired the project site and are starting work, with a $24.28 mil construction loan from PNC Bank.

The community is located at 2864 Harold Dr SE in a tree-lined neighborhood of Port Orchard and will consist of seven three-story garden-style residential buildings, a leasing office and a standalone luxury clubhouse space. A phased delivery, the first building will be completed in August 2026 with the community slated to achieve final completion in December 2026.

Designed by Ross Deckman & Associates, Ravine Ridge’s mix of studio, one-, and two-bedroom apartment homes will range from 508 sf to 986 sf. Each unit is equipped with a podium midrise spec level split-system air-conditioning system. Units feature modern kitchens with stainless steel appliances, tiled backsplashes, elevated shaker cabinetry, black fixtures, hotel-style LED-framed vanity mirrors in the bathrooms, kitchen islands and wood-style flooring. All homes will have either a patio or large deck.

Ravine Ridge will feature a standalone fully amenitized clubhouse with outdoor kitchen amenity boasting a barbecue, firepit, and outdoor Neapolitan style pizza oven. Residents will also enjoy a large dog run, walking trails and other outdoor sitting areas which maximize the enjoyment of the project’s tranquil surroundings which include adjacency to protected greenspace surrounding Blackjack Creek.

The community is conveniently located at Port Orchard’s central hub of Bethel Rd. and Lund Ave., with proximity to core retail, historic Blackjack Creek, and the Port Orchard ferry docks, which provide commuter routes across the Sinclair Inlet to the Bremerton-based Naval Shipyard. The county seat of Kitsap County, Port Orchard is a fast-growing city of 20,000. It’s located 13 miles due west of West Seattle and is connected to Seattle and Vashon Island via the Washington State Ferries run to Southworth.

Ravine Ridge is Legacy’s first development in Kitsap County, just west of Seattle and King County. Much like The Rigney, a Legacy community currently under construction in University Place in Pierce County, it represents a shift towards more cost-effective surface-parked construction while retaining an elevated project aesthetic and finish, versus the higher-cost podium midrise projects the company has built along the Eastlink light rail line in the tech centric submarkets of Bellevue and Redmond, which include the 288-unit Copal Apartments in the Bel-Red neighborhood of Bellevue and the 623-unit Eastline Apartments located on the terminus of the Eastline light rail line in downtown Redmond.




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