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McMenamins Elks Project Delayed Indefinitely
We were hoping that for Christmas Santa would bring us some news on the McMenamins Elks project. What we got is more proof of that old lesson that you should be careful what you wish for...
The News Tribune is reporting that the project is delayed indefinitely due to insufficient funding. McMenamins has financed two-thirds of the $20 million project, and the company has been looking for an investor for the remaining $6 to 7 million. Numerous meetings with investors have proven fruitless. The words "frustrating" and "disappointing" come up in the TNT article. We couldn't agree more.
To make matters worse for those rooting for the renovation of the historic Tacoma building, it is now second in line for McMenamins' attention anyway. The company purchased the historic W.A. Anderson School in Bothell, and the city council there attached a January 2015 deadline to that project.
The good news for Tacoma is that the McMenamins brothers still say they're excited about, and committed to finishing the Elks project - it may just take longer than they thought when this whole process began, and they may have to finance it themselves.
Anyone have a spare $7 million lying around? Maybe it's not too late to appeal to Santa...
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