Developer Spotlight: Michael Hopkins
At 1DROP, we celebrate members who are shaping the future of equitable housing. Our latest Developer Spotlight features Michael Hopkins, founder of Tac Build LLC and a longtime force in the Puget Sound's residential and multifamily development landscape. With a career spanning over 30 years across mortgage lending and real estate development — and having owned or worked on more than 200 projects throughout that journey — Michael has quietly and consistently done the work: building homes, creating pathways to wealth, and now helping guide the next generation of developers.
“I want my legacy to be that I showed people that they can get these things that they did not think were obtainable previously.”
A Foundation Built Early
Michael’s journey into real estate started young. At 19 years old, while working at Boeing, he used a line of credit to purchase a family member’s home so she could remain there during the final years of her life. The experience became his first step into property ownership and ultimately set the direction for the decades that followed.
Growing up around relatives who owned rental properties, Michael saw firsthand how ownership could create stability and long-term wealth. He began with rentals and renovation projects before moving into development and new construction.
Alongside that work, Michael built a long career in mortgage lending, entering the industry in 1993. His experience across both financing and construction continues to shape how he approaches housing today.
“There’s nothing like helping people do something that they do not think that they can do.”
Building Tac Build LLC
Founded in 2007, Tac Build LLC became the umbrella for Michael’s growing development work throughout the region. Over the years, the company has completed residential construction projects ranging from starter homes to multifamily housing, with a focus on practical, community-oriented development. Having managed rental properties through the 2008 housing crisis, Michael developed a strong understanding of risk, market cycles, and the long-term demand for attainable housing.
“As a developer, you’re making something new. It was dirt before, now you’re trying to turn it into a house or an apartment. Naturally, developers are risk takers”
That mindset continues to shape Tac Build’s work today, including the recently completed 28th Street Residences — a three-home development that transformed a steep hillside lot into new workforce housing for Tacoma families.
Among the developments that highlight Michael's approach is Highland 9, a nine-home development in Tacoma's North End that showcases Michael's approach to delivering well-designed housing in high-demand neighborhoods. The project expanded homeownership opportunities in a sought-after area while demonstrating how thoughtful infill development can add housing supply in a manner that respects the existing character of the community.
Navigating Development Challenges
After decades in the industry, Michael is direct about the realities developers face today — particularly around permitting timelines, rising costs, and access to capital. For him, one of the biggest misconceptions newer developers have is believing growth is limited by knowledge alone. He points to permitting as one of the largest barriers facing small and emerging developers today. What once took a matter of weeks can now stretch into months, especially on complex sites involving slopes, engineering reviews, or environmental considerations.
That perspective is also shaped by Michael’s long background in mortgage lending and finance. Whether evaluating deals, structuring projects, or helping clients navigate homeownership, he believes strong financial fundamentals are what sustain long-term growth.
One lesson, in particular, has stayed constant throughout his career:
“You usually make your dollars on your purchase. That purchase number has got to be right. If the foundation isn’t right, the rest of it probably won’t be either.”
A Legacy in the Making
Beyond development itself, Michael remains deeply focused on helping others see homeownership and wealth creation as achievable goals. That motivation is part of what led him to join 1DROP.
He believes organizations like 1DROP play an important role in creating visibility, support systems, and pathways for underrepresented developers and future homeowners alike.
Michael has also committed to sharing his knowledge directly with other developers through monthly 1DROP drop-in sessions in Tacoma, creating space for honest conversations around financing, development, and the realities of the industry. As Tac Build continues growing across the Puget Sound region, Michael remains committed to the same mission that started his journey decades ago: creating opportunity, building wealth, and helping others see a path forward.
“One of the things that drives me is getting minorities involved in housing. I like sharing knowledge of what I have — mainly keeping people from making the same mistakes I’ve made. That’s part of entrepreneurship.”
How Spotlights are Selected: 1DROP features "Developer Spotlights" as educational case studies to demonstrate the viability of diverse housing models. Featured developers and projects are selected based on objective mission-alignment, including:
Demonstrated Track Record: We feature developers with proven experience in completing complex residential projects to provide "lessons learned" for the industry.
Demographic & Geographic Diversity: We prioritize projects led by members from across our region.
Mission Participation: Featured developers must be active participants in 1DROP’s advocacy mission.
Educational Value: Projects are selected based on their ability to serve as a model for scalable housing solutions.
About 1DROP
1DROP is a collective of underrepresented real estate developers addressing the Puget Sound housing crisis. We are committed to empowering underrepresented developers to build housing for all wages, all stages, and all ages while growing access to generational wealth.
1DROP achieves its mission by internally providing:
Apprenticeships for aspiring underrepresented developers.
Co-development frameworks for emerging underrepresented developers to navigate partnership models.
Mentorship, networking, resources and supports for all underrepresented developers.
and externally:
Advocating for funding for underrepresented developers and their projects.
Educating on and advancing policy solutions that enable more housing.
For those inspired to learn more or get involved in supporting equitable housing, visit 1DROP's website to explore our initiatives and join us in making an impact.
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