Buyers looking to own in downtown Olympia have a new option: twelve three-story townhomes at Thirteen + Cherry, priced from $599,900, with an eight-year property tax exemption through the city's Multifamily Tax Exemption program.

The development at 516–530 13th Ave SE and 1213–1227 Cherry St SE received its certificate of occupancy in May 2026. As of June 23, two of the 12 units are pending sale and 10 remain available, according to the project website.

Developer Ryan Clintworth of Twinpeaks Group said his team originally planned luxury rentals but changed course. He opted for sale "to increase much-needed homeownership in our community," Clintworth said in a sponsored post on ThurstonTalk, a local media site.

The project sits a few blocks from the Washington State Capitol campus and the South Capitol neighborhood. Units are approved for short-term rental use, a feature marketed to legislators, lobbyists, and session staff who need a Capitol-adjacent base.

Inline units list at $599,900 (1,755 gross square feet, 1,413 net). Corner end units list at $649,900 (1,898 gross square feet, 1,556 net). Each unit has three levels: a ground-floor garage and flex room, a second-floor open kitchen and living area, and a top floor with two bedrooms and en suite bathrooms.

The project's listing brokers estimate the MFTE exemption saves owners nearly $5,000 a year, though that figure has not been independently verified by the city.

The townhomes arrive as Olympia faces a projected need for roughly 14,000 additional housing units. The city declared an affordable housing emergency in December 2024, and a council committee voted in April 2026 to recommend extending that declaration for two years past its June 30, 2026, expiration.

At market-rate prices starting near $600,000, Thirteen + Cherry does not target the income levels covered by the emergency declaration.

Clintworth described the vertical townhome format as new to downtown Olympia but common in larger markets.

Brokers Justin Hjelm of Capitol Real Estate Group and Jamie Michaud of Windermere Professional Partners are handling sales. The Olympia City Council agreed in November 2025 to revisit the MFTE program in 2026, a review that could affect future projects seeking the same tax break.