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Pierce Transit & Developer in Negotiations for Transit-Oriented Development Near the Tacoma Dome
A transit-oriented mixed-use development next to the Tacoma Dome Park and Ride could become a reality.
Less than a year after the City of Tacoma, working with Pierce Transit, posted an RFI for the project, Pierce Transit is entering into exclusive negotiations for the sale of the property to Portland-based Cody Development Corporation.
The transit agency owns the half acre site, just west of the Tacoma Dome Park and Ride and across the street from Freighthouse Square.
When originally advertised last summer, the RFI envisioned a five- to seven-story mixed use project, with 75 to 100 units, mostly studio and one-bedrooms, along with 3,000 to 9,000 square feet of retail.
The project now in negotiation with Cody would include five floors of residential over two floors of retail and parking, bringing about 100 apartments into the Dome District, making it by far the largest residential building in the neighborhood.
The City of Tacoma hopes a mixed-use development adjacent to so many different modes of transportation - Pierce and Sound transit buses, Greyhound, the new Amtrak station, Sounder, and light rail - will serve as a catalyst for further investment in the Dome District.
Pierce Transit and Cody Development Corporation will now have 90 to 120 days for both to complete due dilligence and decide whether to move forward.
Read the full press release here.
Previously from Exit133: Tacoma Dome Transit-Oriented Development: Who's Interested?
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