Local

7 stories profiling Point Ruston’s legal battles

Stories by Tacoma News Tribune journalists, with AI summarization

Point Ruston is embroiled in legal battles that are reshaping its financial future and governance. A series of lawsuits seeks to address tens of millions in unpaid debts linked to the site's various limited liability companies. Key lawsuits involve receivership actions, foreclosure plans, and debt collection pursuits by major investors like AURC III and TerraCotta Credit REIT.

The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories below were reported, written and edited by McClatchy journalists.

Natasha Chet (left) and Polina Ryzhichichenko (right) attempt to pay for parking at the Point Ruston Public Parking Garage on Wednesday, Jan. 8. Chet and Ryzhichichenko were told by a Jewel Box Cafe employee that their parking could no longer be validated by the cafe. Some on-site businesses at Point Ruston lost the ability to validate parking as of Jan. 1. By Rosemary Montalvo

NO. 1: ‘ENOUGH IS ENOUGH.’ POINT RUSTON MERCHANTS’ GROUP PLANNING PROTEST OVER ISSUES AT SITE

Parking could be interesting as some members of the Waterfront Merchants Alliance organize rally at the residential/retail development. | Published January 17, 2025 | Read Full Story by Debbie Cockrell

Natasha Chet (left) and Polina Ryzhichichenko (right) attempt to pay for parking at the Point Ruston Public Parking Garage on Wednesday, Jan. 8. Chet and Ryzhichichenko were told by a Jewel Box Cafe employee that their parking could no longer be validated by the cafe. Some on-site businesses at Point Ruston lost the ability to validate parking as of Jan. 1.

NO. 2: POINT RUSTON WOES INTENSIFY AS PARKING BECOMES STICKING POINT FOR CUSTOMERS, EMPLOYEES

Some businesses are unable to validate parking amid larger site-wide debt-collection pursuits, as business owners also confront expenses for employee parking. | Published January 13, 2025 | Read Full Story by Debbie Cockrell Rosemary Montalvo

The Point Ruston Public Parking garage in Tacoma, Washington, shown on Tuesday, Oct. 10, 2023. By Tony Overman

NO. 3: POINT RUSTON LEGAL BATTLES TURN FOCUS ON DEVELOPER’S SON IN DEBT-COLLECTION PURSUITS

In one case, the litigation has expanded with a lender pursuing lawsuits in Washington and California. | Published March 4, 2024 | Read Full Story by Debbie Cockrell

Michael Cohen, developer of Point Ruston LLC at the site of the former ASARCO smelter smoke stack in Ruston, Wednesday October 20, 2010. By Peter Haley

NO. 4: DID POINT RUSTON DEVELOPER CONSPIRE WITH SON TO ELUDE CREDITORS? ESTATE CASE TURNS MESSY

Michael Cohen died in 2020. As a contentious estate battle plays out in federal court, his son, Loren Cohen, denies allegations of wrongdoing. | Published November 4, 2024 | Read Full Story by dcockrell@thenewstribune.comDebbie Cockrell

The Point Ruston Public Parking garage in Tacoma, Washington, shown on Tuesday, Oct. 10, 2023. By Tony Overman

NO. 5: ‘SCRAPPING FOR SOLUTIONS.’ MERCHANTS WORK TO STAY AFLOAT AMID POINT RUSTON’S TROUBLES

They’ve got a new website after running into various obstacles, including objections to using the words “Point Ruston” in marketing efforts. | Published October 2, 2024 | Read Full Story by Debbie Cockrell

The Point Ruston Public Parking garage and Public Market (background) were the focus of a foreclosure decree issued March 29, 2024. They are shown on Tuesday, Oct. 10, 2023. By Tony Overman

NO. 6: POINT RUSTON PARCELS INCLUDING WATERFRONT MARKET, GARAGE SITE SET FOR FORECLOSURE SALE

Lender is likely buyer to collect on more than $91 million judgment on construction debt. | Published April 4, 2024 | Read Full Story by Debbie Cockrell

The Point Ruston Public Parking garage and Public Market (background) were the focus of a foreclosure decree issued March 29, 2024. They are shown on Tuesday, Oct. 10, 2023. By Tony Overman

NO. 7: POINT RUSTON’S LEGAL BATTLES GROW AS CONDO GROUPS SEEK NEUTRAL PARTY TO GOVERN SITE

The groups cite accountability issues, conflicts of interest and increasing assessments to cover environmental expenses, marketing and legal bills. | Published February 16, 2024 | Read Full Story by Debbie Cockrell

This report was produced with the help of AI tools, which summarized previous stories reported and written by McClatchy journalists. It was edited by journalists in our News division.