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A Few Details on a Possible New Tacoma “Town Center”
A few more details are emerging on the proposed project, which is still in the early stages. The Seattle Times reports that a preliminary agreement dating back to August could see the 6.4 acres of land sold to an investment group for $3.5 million for the construction of a mixed-use project to be constructed in two phases.
According to the Times, the deal, still in early stages, would sell the land to China-based Wuhan Boshengshiji Real Estate Development Co., with Bellevue-based North America Asset Management Group handling the development of the mixed-use project.
The mixed-use project, called Town Center, includes 360 residential units, 90,000 square feet of offices and 200,000 square feet of commercial space. It will also have some ground-floor retail and about 480 parking stalls.
The project is expected to be 30% EB-5 funded, and involves some of the same players from the Yareton Convention Center Hotel project.
The News Tribune reports that the investment group is now working on a feasibility study to be submitted to the City by mid-December. The project will require approval from the city coucil, but the TNT says we could see phase one done as early as 2018.
Early design images included in the Seattle Times story show a glass and brick building at the corner of 21st and Jefferson with a sign reading "Century Plaza," and an airy glass atrium, and public seating, downhill from what looks like it migth be the residential element of the project. An aerial rendering included with the TNT article shows a birds-eye view of the project covering both the Jefferson blocks and the larger blocks between Fawcett and Tacoma Avenue South. In this view, it appears that Fawcett has been closed to vehicle traffic, creating a turnaround for cars, and a plaza with a water feature.
Any designs at this point are, of course, just conceptual, and nowhere near final, but what would you hope to see included in a development on those blocks? It's a pretty big blank canvas...
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