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Historic Winthrop Under New Ownership
The historic Winthrop Hotel in downtown Tacoma is under new ownership.
The News Tribune reports that California-based Redwood Housing Partners closed the deal Tuesday, paying $8.5 million for the 1925 property previously owned by infamous Tacoma development group Prium.
The deal comes with some work attached - the Winthrop is badly in need of work to repair its elevators, parts of the clay tile roof, and many of its windows, as well as associated water damage, as well as interior repairs to walls, ceilings, and improve AA accessibility. The TNT puts the work already permited by the City at $6.8 million, with another permit still in the works.
The California company plans to continue to operate the low-income housing apartments. They say they have no plans at this point for the historic ballroom or top floor penthouse.
It seems appropriate, in light of May being Historic Preservation Month, that the historic Winthrop will finally be getting some much needed preserving.
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