This unfinished Tacoma apartment project might have new life. Worked halted around 2022
A long-stalled transit-oriented apartment project in the Tacoma Dome Station area might be coming back to life.
The original developers of Tacoma Trax, first proposed in 2016, ran into financial trouble, and the project has sat unfinished since around the end of 2022.
The site, 415 E. 25th St., eventually reverted to the project’s lender, Parkview Financial of Los Angeles via foreclosure auction in November 2023.
In September 2024, Parkview CEO Paul Rahimian told The News Tribune via email that the project was for sale and Parkview planned to increase Tacoma Trax’s density from a proposed 115 units to 202 to boost Trax’s worth.
On Feb. 7, a new building permit application was submitted that calls for: “Completion of a partially constructed podium project,” at the site. “The concrete levels have been constructed and approved under a previous expired permit,” the application noted.
“Redesign of interior floor plans to add more units, now 202 units. Level 1 at grade includes live/work or flex-type units with storefronts facing 25th Street,” it added. The description shows eight floors.
The application lists an “anticipated” start date in mid-June at an estimated cost of $20 million to complete the project, though estimated dates/costs routinely change in development timelines.
“We are currently working through the submission with the City, so it’s too early to know about the completion date,” Rahimian told The News Tribune on Feb. 15 in response to questions about the project.
