As housing production in Whatcom County continues to lag behind demand, the Talbot Group is advancing new projects aligned with the City of Bellingham’s growth agenda. Today’s groundbreaking of The Manning—a 142-unit market-rate rental community featuring studio, one-bedroom, and two-bedroom homes designed with underground parking designed by MG2—marks the newest residential addition to Barkley Village. Construction will be managed by Exxel Pacific and financed by the Goldman Sachs Private Bank. Leasing will begin early in 2027.
“Today’s groundbreaking caps a banner year for us at Barkley Village,” said Stowe Talbot, co-owner of the Talbot Group. “The Manning is the result of three years of planning, design, and financial analysis—it follows on the city’s recent approval of our urban village entitlements and expansion of the city’s MFTE program, setting Barkley Village on a new growth trajectory. We credit the City of Bellingham’s leadership and our partnership for what we’re seeing today.”
The City of Bellingham expanded its 8-Year Multi-Family Tax Exemption (MFTE) to include Barkley Village on June 9th, and the City Council approved a Development Agreement, Planned Action Ordinance, and updated Subarea Plan for the urban village on August 25th.
“The Manning demonstrates the power of tools like the Multi-Family Tax Exemption (MFTE) program to incentivize the development of additional housing Bellingham needs in the places where we want growth to occur,” said City of Bellingham Mayor Kim Lund.
The region’s diversified job base, international trade access, outdoor recreation, and rich cultural environment continue to attract world-class contractors and institutional capital.
“We are pleased to support the Talbot Group on this significant milestone that will bring a contemporary mixed-use residential community to Barkley Village to support new levels of density and activity in the growing Bellingham market,” said Liana Perrault, Senior Lending Advisor in the Goldman Sachs Private Bank. “This groundbreaking represents an exciting new phase in the development of this next-generation urban community, and we are proud to support the Talbot Group as their visionary plan for Barkley Village unfolds.”
Business and community leaders within Barkley Village are also expressing optimism about the district’s trajectory.
“Having started for Haggen in 1995 when the Barkley Haggen opened, it has been very endearing to see the growth of the village over the years,” said Trevor Cowin, Store Manager of Haggen. “The Talbot Group’s vision for the village has created a place where residents can get their needs taken care of without ever having to leave the community.”
A New Era for Barkley Village
With the City of Bellingham’s adoption of the Barkley Urban Village Plan, the 255-acre district has formally entered a transformative chapter—positioning itself as a premier destination for sustainable growth, innovation, and next-generation living. The plan unlocks opportunities for new housing, business expansion, and mixed-use development within one of the Northwest’s most thoughtfully designed emerging communities.
“MG2 is honored and excited to break ground on The Manning, the gateway project of the Barkley Village master plan,” said MG2 Principal Jooyeol Oh. “This building has been designed to show resiliency and timelessness, reflecting the Talbot Group’s own roots and commitment to Bellingham and the Barkley Village community.”
Located just 90 miles north of Seattle and 50 miles south of Vancouver, BC, Barkley Village offers walkable urbanism, mixed-use vibrancy, and long-term value—essential attributes for Washington’s evolving economy. Its designation as an official urban village places it at the center of Bellingham’s strategy for accommodating population and employment growth while enhancing affordability, livability, and environmental stewardship.
“This groundbreaking is a sign of big things to come for Barkley Village,” said Ben Besley, CEO of the Talbot Group. “Our new entitlements allow more than 2,400 additional housing units, and MFTE benefits will make these homes easier to finance. In fact, we are starting to design for-sale townhomes that should deliver at the same time as The Manning,” Besley continued. “The story of Barkley Village is one of partnership and long-term vision. With some of the best tenants in Whatcom County and a great relationship with the City of Bellingham, this vision is attracting development and investment partners to help us build for the benefit of our neighbors and the municipality.”
The Manning: A Catalyst Project
As the first project under the district’s new entitlements, The Manning exemplifies Barkley Village’s next phase of growth. The community reinforces a commitment to mid-rise rental housing with structured underground parking. Five large for-sale townhomes are also planned in a parallel phase, bringing true urban form to the district. Funding from global institutions underscores strong confidence in both market fundamentals and Barkley Village’s role as a rising center of gravity for regional housing.
“We’re excited for the smart development we expect to see in Barkley Village in the coming years as it grows into a more walkable and bikeable neighborhood with a wide range of housing types, amenities, and activities,” said Blake Lyon, City of Bellingham Director of Planning and Community Development. “Barkley Village represents a model for urban village development as a sustainable, mixed-use district designed for the future where people want to live, connect, and shop.”
Market Momentum and Regional Appeal
As Seattle faces escalating costs and regulatory friction, many investors and residents are looking north. Barkley Village has emerged as an attractive alternative, offering:
- Predictable entitlements through the city’s planned-action designation
- Progressive yet practical political leadership that prioritizes housing production
- Strong population and employment growth
- A walkable, mixed-use environment with exceptional lifestyle amenities
- Greater affordability and long-term value
- A master plan with substantial development capacity and clear civic alignment
“Barkley Village is defining its own urban center outside a primary city as a next-generation hub of growth—but even better: more urban, more sustainable, more integrated,” said Dean Jones, President & CEO of Realogics Sotheby’s International Realty (RSIR) and Founder of The Futurecast Forum. “The Manning stands as a signature example of the vision, vitality, and investment energy transforming the district into the region’s newest urban center of gravity.”
The updated Barkley Village master plan envisions just shy of 3,000 new homes, alongside new office and innovation space, retail streets, parks, trails, and civic amenities. Residents will enjoy walkability, access to outdoor recreation, renowned freshwater lakes, and proximity to major regional transportation links, including Bellingham International Airport and a gateway to the San Juan Islands.
Whatcom County is increasingly recognized as a top U.S. retirement market—a “Goldilocks” destination that strikes the ideal balance between lifestyle, affordability, and livability. National rankings from Forbes and CNNMoney have highlighted Bellingham for its small-city charm, vibrant culture, and exceptional access to nature, while still offering more attainable housing and a lower cost of living than major West Coast metros. With a walkable urban core, a thriving arts and university community, strong healthcare access, and unparalleled outdoor recreation from the bay to the Cascades, Bellingham delivers the best of all worlds for retirees seeking comfort, connection, and long-term value without big-city burdens.
Housing Market Outlook
Median home-price trends further reflect Bellingham’s rising prominence. In October 2025, the median sale price in Bellingham was approximately $676,000, up ~9% year-over-year, compared to Seattle’s ~2.3% price growth during the same period at a median of $900,000. Jones notes that Bellingham may outperform Seattle in median price growth in the coming years as new housing options at Barkley Village draw more buyers.
The Talbot Group is actively planning additional housing, including rowhouses, and recently acquired an adjacent rental community to create a new gateway to Barkley Village.
A Vision Anchored in Community and Environment
Nearly 40 acres of preserved habitat and open space anchor the strengthened Barkley Village master plan, complemented by new parks, multimodal streets, and trail networks. The district prioritizes environmental stewardship, community character, and long-term economic vitality.
Barkley Village welcomes collaboration with:
- Residential and mixed-use developers
• Employers and innovation-sector leaders
• Retailers and restaurateurs
• Investors seeking long-term stability
• Civic, arts, and cultural partners
This next build-out phase is a catalytic moment in Bellingham’s evolution—one shaped by intentional planning, strategic partnerships, and shared vision.
About Barkley Village
Barkley Village is a 255-acre master-planned urban district in Bellingham, Washington, offering a vibrant mix of housing, employment, retail, parks, and open spaces. As one of Bellingham’s officially designated urban villages, Barkley Village is a cornerstone of the city’s long-term strategy for sustainable growth, livability, and economic opportunity.
For more information, visit www.BarkleyVillage.com.