The Reserve at Lacey is a single, five-story apartment building with 240 units for low-income seniors age 62 and older. Work includes demolition of former Albertsons store and surface parking lot.

The complex will include a social room, wellness office, beauty salon, game room, fitness center, theater, indoor pool/spa, and private dining area. The building will also have two retail spaces facing Pacific Avenue SE totaling 8,962 square feet of commercial space.