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City of Tacoma puts out a request for developers to build on downtown’s biggest undeveloped site

Post by Kathleen Cooper / The News Tribune on June 18, 2013 at 11:14 am with No Comments »
June 18, 2013 11:14 am

This just in via e-mail from the City of Tacoma: A solicitation has gone out to dozens of developers, brokers and investors, asking for proposals to buy and develop downtown’s biggest undeveloped site.

parcelThe so-called 6-acre parcel, once planned to be the site of the police headquarters, has been vacant since 2002,  just up the hill from the University of Washington Tacoma. The city wants “(h)igh quality projects that contribute to the area’s vitality” for the site. Proposals are due by Aug. 20.

Read the RFP here.

The parcel most recently was targeted by the Asia Pacific Cultural Center as a potential site for a major mixed-use development. The center wanted the city to donate the land, something it couldn’t do in light of $12.3 million in “encumbrances” on it — debt accrued from the land being used as leverage for other projects.

Presumably the purchase price would have to be enough for the city to retire that debt.

I’m filling in as business editor this week, so my colleague John Gillie will be working on more details for this story. Read the full report in tomorrow’s News Tribune.

 

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