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An EB-5 Funded Mixed-Use Development in Tacoma’s Brewery District?
Here's something we somehow missed this summer. It showed up in a City of Tacoma Community and Economic Development publication back in June.
Wuhan Boshengshiji Real Estate, a Wuhan-based developer, is in the process of negotiating a development agreement with the City of Tacoma to acquire a 6.4-acre site in the Brewery District. The developer plans to build residential, office and retail space as well as parking in two phases. The project is proposed to be financed in part through developer equity and EB-5 capital.
The specific site isn't mentioned explicitly, but 6.4 acres is the size of the City-owned vacant blocks at 21st and Jefferson, just up the hill from the historic buildings and warehouses of the Brewery District.
It's a brief note, and there doesn't seem to be a whole lot of other information out there, and past plans for the Brewery District have materialized, only to fall through for one reason or another. That said, it does seem worth keeping an eye on...
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