Foss Site One...More Condos? (12. May 2006, 12:57 by Jamie) ~
(The following reflects the opinions of Jamie from thriceallamerican, “guest editor”, and does not necessarily reflect the opinions of Exit 133.)
Just the other day, some of the comments in this thread diverged into a discussion of the lack of Class A office space downtown (and in Tacoma in general). Now today, Dan Voelpel at the TNT comes down on the Foss Waterway Development Authority for choosing a bid for Site 1 (closest to the 21st Street Bridge on Dock Street) that favors condos over office space. (They are proposing ~112k sqft residential vs. 27k sqft office, or up to 60k sqft office if they find there is demand…compare that to 110k sqft of parking.)
I will admit that a lot of elements about the chosen bid from Prium Properties are attractive, from corridors to the esplanade and bike racks to rainwater catchment systems integrated to the building roof, but I really wish that the Foss board had stuck to their guns on their wish for office space. Prium is of course perfectly free to state that they don’t believe that they can fill an office building, but if the bid process is for something that is primarily office space, by God let’s not choose something that favors residential space (already rampant in Foss projects) over that. It just comes across as playing favorites with the developers instead of choosing what we want in a building.
I just don’t think it’s accurate to say that people aren’t looking for office space in Tacoma so we shouldn’t build it. The more accurate statement would be that people don’t look for office space in Tacoma because there’s no Class A office space to be had. I don’t think this is too much of a chicken/egg scenario, because the solution is simple: if you build it, they will come. Big “right on” to Voelpel for nailing them on it.
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(also posted on TNT site)
I’ve heard for years that Tacoma needs more Class A office space. Condos may be what’s hot right now, but unless we create opportunities for people to be here DURING THE DAY, then by definition we will not have a dynamic downtown. It will be like a retirement village: empty with few retailers.
I’m not sure what the Foss board is basing their decision on, but they need to be bold and stick with the mission.
The latest Office Market report in my hand says that Tacoma has a total of 10 Class A buildings with a vacancy of 8.3%. The fact that we only have 10 is pathetic – we should have at least twice that amount. Downtown Seattle alone has 91! And the vacancy rate is respectable – beats the Puget Sound average by 2 points.
Does the Foss board know something the market doesn’t? What’s going on here?
1 | Posted by morgan | May 12, 02:44 PM
“but I really wish that the Foss board had stuck to their guns on their wish for office space. Prium is of course perfectly free to state that they don’t believe that they can fill an office building, but if the bid process is for something that is primarily office space,”
If they would have been filled up quickly, I would agree with you.
However, they perceived that there was not a market for it one way or another and I would hate to see the building be empty like much of Tacoma.
Which comes first the office space or residential?
I think its a tough call. However, as more people start moving downtown and the storefront take down more of the vacancy signs, more businesses are going to want to move downtown as well.
Faith is lacking here. The Foss Authority is afraid of failing. Fear as a basis for making, or not making, decisions is not how we should proceed. In my humble opinion.
3 | Posted by morgan | May 12, 11:10 PM
“The Foss Authority is afraid of failing.”
You might be right. Office spece may have been better.
However, I do like Prium.
Some of the projects around town, like the hotel on Foss are stalling out. I think Prium will follow through as they have on other projects.
I work for one of the sub-consultants under Pannatoni Development…who competed for this project…I just want to say that I think the FWDA really dropped the bomb here. For one, when they asked for proposals, it was under the decision they had made that this be OFFICE/RETAIL space…why Prium deviated, I have no idea. Oh well. Such is life. There isnt really a huge need for high-end condos in Tacoma though. I think they made a mistake.
Old City Hall is being developed by Metropolitan Development Group.
http://www.metrodvg.com/
(website was down 5-15-06)
7 | Posted by Jake | May 15, 09:49 PM
Looks like Peter Callaghan isn’t happy either. Who exactly does think that the Foss board made the right choice?
...it looks like someone forgot to set up a home page on the Metropolitan Development Group website…
the inside pages work though:
http://www.metrodvg.com/propertyListings.htm
9 | Posted by morgan | May 16, 09:59 AM
I am not sure one way or another whether offices would work. I have not seen the market reports.
However, the whole Foss project seems to be stuck.
The hotel project keeps getting delayed.
Also, the Esplande condo project can’t seem to actually get going even though they keep stating that they have “broken ground.”
Perhaps if they would move around some dirt on the site, people might get excited in the project more. I feel bad for the sales force in the corner office.
10 | Posted by James | May 16, 11:07 AM
Thanks for the listing for the old city hall building.
The tenants were supposed to be out by 1/1/2006. There are still a few left.
11 | Posted by James | May 16, 11:11 AM
I would be interested to see what Pannattoni proposed. Doesn’t look like they have much experience in urban buildings. On their website everything look like suburb style buildings.
www.panattoni.com
12 | Posted by Jake | May 17, 09:02 AM
Did pictures of the proposed buildings ever get released? Would be nice to have an idea of what will be going in.
13 | Posted by Jake | May 23, 08:40 AM
Kinda answered my own questions:
http://www.priumcompanies.com/page.php?id=108
14 | Posted by Jake | May 23, 11:23 AM
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