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The four-story apartment project identified in Poulsbo planning records as The Nora and Valari Residences proposes 84 homes across two buildings. The 44-unit figure applies to Building B; a separate mixed-use Building A would add 40 homes and proposed ground-floor retail. The city’s development page lists a request for revisions sent July 10, 2026, and the official records reviewed do not confirm that construction has started.
What is the Poulsbo apartment project?
The Washington State Department of Ecology’s June 26, 2026 SEPA notice names the application “THE NORA AND VALERI RESIDENCES SITE PLAN AND DESIGN REVIEW” (file P-05-26-26-01). It describes two four-story buildings on approximately 2.30 acres bordered by NE Sunset Street, Jensen Way NE, and NE Iverson Street. Read the SEPA record.
The proposal divides the homes between two buildings with different roles:
| Building | Proposed use and units |
|---|---|
| Building A | 40 residential units and 1,377 square feet of ground-floor retail; located in the C-1/Downtown zone. |
| Building B | 44 multifamily units; located in the Residential High zone. |
| Total | 84 residential units, calculated from the proposal’s stated 40 units in Building A plus 44 in Building B. |
The project should not be confused with Oslo Bay Apartments near the SR 305/SR 307 intersection or with AKTIV, another separate four-story mixed-use project in Poulsbo.
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What does the proposal include beyond apartments?
The site plan describes structured and surface parking, internal vehicle circulation connecting two site access points, pedestrian and bicycle improvements, street-frontage enhancements, landscaping, and associated utilities. It also includes a landscaped forecourt or plaza along Jensen Way, a roof deck for Building A residents, and a pocket park at the north end of Building B. These are proposed features in the planning record, not confirmation that they have been built.
Has construction started?
The accessible official records do not establish a construction start. The City of Poulsbo’s development projects under review page lists the application and records “Request for Revisions sent 7/10.” That is the latest status located on the city page as of October 7, 2026; it does not indicate whether later approvals or construction activity occurred.
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The city describes a sequence of land-use review, followed by tree-cutting and clearing/grading, followed by building-permit review. A revision request in the land-use stage is not the same as a clearing, grading, or building permit, and the reviewed records do not confirm those later stages.
A Navbug listing dated October 4, 2026 carries a matching headline describing an apartment complex “taking shape along Highway 305,” but the article page was inaccessible. The Highway 305 sightline and claim that work is underway therefore remain unverified in the available sources: Navbug listing.
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What is not yet established?
The cited planning and SEPA records do not state rents, an affordability mix, floor plans, construction financing, or a completion date. Those details should not be inferred from the unit counts or the proposed site features.
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