Tacoma Daily Index, December 18, 2014

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1712 6TH 1019 Pacific AVE., Avenue, SUITE Suite 3001216 PO Box 1303, TACOMA, WA TACOMA, 98405 WA 98401 PHONE (253) 627-4853 FAX (253) 627-2253

THURSDAY, DECEMBER 18, 2014

Vol. CXXIII, No. 243

OFFICIAL NEWSPAPER OF THE CITY OF TACOMA Devoted to the Courts, Real Estate, Finance, Industrial Activities, and Publication of Legal Notices

Published Published Since Since 1890 1890

Top Stories 2014

#10 — Downtown Tacoma convention center hotel development Images Courtesy City of Tacoma EDITOR'S NOTE: The Tacoma Daily Index is looking back at the 10 most popular and most read articles among visitors to our Web site. Enjoy! The City of Tacoma in January issued a call for developers to build a 250-room, four-star hotel that would include space for retail and parking on a nearly-twoacre site adjacent to the Greater Tacoma Convention and Trade Center in downtown Tacoma (see "Tacoma seeks developer for downtown hotel near Convention Center," Tacoma Daily Index, Jan. 22, 2014). After the bid deadline expired in February, City staff evaluated proposals from five developers — Provenance Hotels; Mortenson Construction; Hollander Investments; American Life Incorporated; and Yareton Investment & Management (see "City Hall News: Downtown Tacoma hotel development, $3.5M Dept. of Ecology grants, and Alder Lake project update," Tacoma Daily Index, April 11, 2014). In April, Tacoma City Council authorized City Manager T. C. Broadnax to negotiate a development agreement with Yareton Investment & Management. Seven months later, City officials announced they reached a tentative development agreement for a new four-star, 300-room hotel (see "City reaches tentative agreement for convention center hotel," Tacoma Daily Index, Nov. 13, 2014). The development is expected to break ground in 2016 (pictured). According to City staff, Yareton Investment & Management is in the process of submitting development plans for the hotel, and even considering a second phase of the project, which would include approximately 200 residential condominiums, ground floor retail and/or office space, and parking. "With strong commercial anchors at both ends of Pacific Avenue in downtown Tacoma — namely the University of Washington Tacoma, museums, and a concentration of restaurants and retail stores — the new hotel will serve as a centerpiece for additional catalytic investment in the downtown core," said Broadnax in November.

NOTE TO READERS

In observance of Christmas Day, the Tacoma Daily Index will not be published on Thurs., Dec. 25. Publication will resume on Fri., Dec. 26.

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