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Elks Temple properties change hands

Post by Kathleen Cooper / The News Tribune on Oct. 30, 2009 at 3:55 pm with 5 Comments »
November 3, 2009 10:09 am

Ownership of the downtown Elks Temple and the adjacent property officially changed hands Friday.

“This is a major step towards bringing this project to fruition,” said developer Rick Moses in a news release announcing the closing.

Portland developer Williams & Dame transferred ownership of the Elks building to McMenamins Pubs & Breweries, and of the vacant land to the north to the City of Tacoma.

Tacoma’s City Council approved agreements in September that separated the projects even though development will roll along simultaneously. McMenamins bought the building and the land under it for $1.2 million, and the city bought the lot for $900,000 from an economic development fund.

Moses and his business partner, developer Grace Pleasants, plan to build a mixed-use development on that lot atop a city-owned parking garage. The development will include a grocery store and five floors of apartments. Part of the developers’ agreement with the city gives them 18 months to find financing for their part of the project, during which time they also have the option to buy the land from the city for what it paid plus back taxes and operating costs.

Now that the property has changed hands, Pleasants said Friday, they can start applying for financing. She said talks with potential tenants for the grocery continue, and that 2-3 grocers are “very interested in our property and talking to us actively.”

McMenamins plans to restore the historic Elks building and convert it to a brewpub, music venue, hotel and spa. Construction is scheduled to start next fall, and the opening is scheduled for spring 2012.

“The neighborhood and the whole downtown will become a major cultural and entertainment destination for the entire Puget Sound area,” Pleasants said in the news release.

Leave a comment Comments → 5
  1. crusader says:

    We may not have jobs left in Tacoma – but we’ll have some more great beer.

  2. Kevindot1 says:

    Awesome news!!

  3. ClownPosse says:

    ” Pleasants said Friday, they can start applying for financing.”

    With what as collateral ?

    Neither of you have any money !

    Did you get a committment from the Gotti Social Club (City Council) to be a signatory to any loan ?

  4. johnesherman says:

    It’s not too late, Sound Transit can build an overhead cable Link-Tram between this new City owned parking garage facility for mass transit system connecting route across the Thea Foss Waterway to Puget Sound Waters Taxpayers and Utility Ratepayers other public facility, and no cost to ride the Link-Tram because it can be just like Tacoma Link-Train taxpayer funded for Tacoma Citizens benefit.

    Just think; therefore Puget Sound Waters building occupants have a quick way to go for lunch, shop at the stores, park their vehicles and use a mass transit system that reduces the carbon footprint, and Tacoma visitors can ride the Link-Tram for aerial views of re-manufactured Downtown Tacoma.

    Maybe the new City of Tacoma Council can declare a Taxpayers emergency so funding would be available to design and construct and operate this new mass transit benefit—a new Link-Tram system that the Tacoma Taxpayers Citizens need now.

  5. I guess I really don’t have the time.

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