Politics & Government

Tacoma hotel project likely to meet Friday deadline

A proposed hotel attached to Tacoma’s convention center will rise from a five-story podium building and blend in with surrounding architecture, the developer says.

That vision received the blessing of the Landmarks Preservation Commission last month, said Elly Walkowiak of the city’s economic development department. The commission also approved the height of the two buildings and the way they are placed on the site, she said.

The design includes a transition from the modern and metallic Greater Tacoma Convention & Trade Center to the early 1900s brickwork of the Carlton Building next door. Decorative planters and street-level retail are incorporated in the building’s design facing Commerce Street.

Developer Yareton Investment and Management LLC is expected to meet a deadline Friday (May 22) to share more information with the city, Walkowiak said. Tacoma plans to sell the developer land for the project if the company meets certain criteria.

When Chinese-owned Yareton first released details about the project last year, it envisioned the tallest tower rising as high as 34 stories with a mix of hotel rooms and condominiums. It later revised its plans to call for two 24-story towers next to the city’s convention center, and the hotel would have at least 300 rooms.

The newest design calls for one 240-foot-high tower with hotel rooms and a second, 140-foot-high residential tower with 144 units. Both will rise from a base that contains two to five stories of various rooms that will support the hotel and shared convention spaces.

Walkowiak said the developer anticipates finishing the first tower by the end of 2018. The second tower could be built a couple of years after the first, depending on market conditions, she said.

The developer has a laundry list of items to provide to the city by end of day Friday, including a site plan, a financing plan, a description of the types of stores and services that would locate in the development, the estimated cost of parking stalls the city could buy from the project and details about a potential hotel operator.

In addition, Yareton must make the second of two $575,000 payments to the city, according to the development agreement.

The city is seeking to attract a four-star hotel to the area to boost events at the Greater Tacoma Convention & Trade Center next door.