Tacoma's Graffiti Garages saga: 5 stories, including the latest update
This collection of articles on Tacoma's Graffiti Garages highlights the property's complex history.
The site, originally intended for redevelopment, became embroiled in bankruptcy and legal disputes tied to the investment firm iCap. One article details how the property at 725 Broadway faced financial and legal turmoil due to the collapse of iCap, which used the property in a Ponzi scheme.
Another piece outlines the multifaceted legal issues surrounding the property, including a court ruling classifying iCap's operations as a Ponzi scheme, which led to eventual bankruptcy proceedings. The garage property was sold at a sheriff's sale due to unpaid debts owed to Oak Hills Construction.
NO. 1: WHAT HAPPENED TO REDEVELOPMENT OF GRAFFITI GARAGES? THE ANSWER TAKES SURPRISING TWIST
An LLC behind the development was initially swept up in a larger bankruptcy case that now involves federal investigators reportedly looking at Ponzi scheme allegations. | Published May 6, 2024 | Read Full Story by Debbie Cockrell
NO. 2: INFAMOUS DOWNTOWN TACOMA PROPERTY HIT WITH ‘NOTICE OF ABANDONMENT’ DESIGNATION
The move was part of a court-approved Chapter 11 bankruptcy plan. | Published April 27, 2025 | Read Full Story by Debbie Cockrell
NO. 3: FORMER TACOMA PARKING GARAGES TIED TO PONZI SCHEME HEADED FOR SHERIFF’S SALE
A Milton-based construction firm has put the act of property foreclosure into motion with Tacoma’s Graffiti Garages. | Published September 28, 2025 | Read Full Story by Debbie Cockrell
NO. 4: TACOMA-BASED BANK SUED AS PART OF PONZI SCHEME THAT COST INVESTORS $230M
Tacoma-based Columbia Bank has been drawn into a lawsuit spawned from a sprawling real-estate Ponzi scheme that included a Tacoma property.On Friday, the iCap Liquidating Trust filed new lawsuits against parties alleged to have enabled or profited from the scheme.Among them is Umpqua Bank, which in March 2023 completed a merger with Columbia Bank. | Published October 1, 2025 | Read Full Story by Debbie Cockrell
NO. 5: TACOMA GARAGE PROPERTY TIED TO PONZI SCHEME SELLS IN DEBT-COLLECTION CASE
The long-abandoned Graffiti Garages property in Tacoma has sold to a local creditor who foreclosed on the site. | Published October 23, 2025 | Read Full Story by Debbie Cockrell
The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.