With the federal government’s recent approval of an EB-5 regional center designation for the Greater Tacoma Convention Center hotel project, developer Yareton Investment and Management LLC will now begin to raise non-developer investment capital while working with the City of Tacoma over the next several months to complete the real estate entitlement process. At the developer’s expense, work to construct a ramp from Commerce Street into the parking garage under the Convention Center – as well as additional dock space adjacent to the existing ones on Market Street – is scheduled to begin on Dec. 27, 2016.

“Over the next two and a half years, we will see Tacoma’s skyline evolve with the addition of this hotel,” said Mayor Marilyn Strickland, who led Tacoma’s efforts to develop an international relations agenda and strategy to promote education, the arts, tourism and attract private investment to Tacoma. “The Greater Tacoma Convention Center’s footprint was built to accommodate a hotel. This will help attract more conventions and events, drive more investment into our downtown core, create jobs and further raise our city’s profile.”

“This project is consistent with Tacoma’s economic development strategy,” said City Manager T.C. Broadnax.  “In addition to Pierce County-based Absher Construction, local small business enterprises and apprentices will be hired to perform the work necessary to create this signature amenity for downtown Tacoma.”

Sidewalks in the vicinity of the new Greater Tacoma Convention Center A garage entrance on Commerce Street will be closed from Dec. 27, 2016 – March 1, 2017 to enable ramp construction, and a fence will be placed to secure the development site in March 2017, blocking access to the surface lots and the Carlton parking structure at South 17th and Commerce streets. Heavy construction equipment will be stationed at the development site during that time in preparation for construction of the building.

Construction work hours will be Monday through Friday, from 7 a.m. to 5 p.m., and high noise activities as well as construction truck traffic will be managed by Absher Construction to minimize impact to the surrounding neighborhood to the greatest extent possible. Construction workers will also be directed to park at off-site locations to minimize impacts on parking for the University of Washington Tacoma and area businesses.

From March 1, 2017, for the duration of construction through the summer of 2019 when the new hotel is projected to open, access from the south of the Greater Tacoma Convention Center as well as the exterior parking lots A, B and C will be closed. Convention Center guests would enter the facility through the Commerce and 15th street doors, and guest parking will be available in the A garage, within the Convention Center building. The A garage would be accessible via the newly constructed ramp at Commerce Street. Additional guest parking will be available throughout the construction period at the D and E garages off Court C. Guests may also park by Court 17 (1717 Market St.). As parking availability will be limited depending on event timing, type and size, guests are encouraged to plan for, and allow themselves, more time to park.

The Greater Tacoma Convention Center will continue to host events during construction, and project-related construction updates will be available online at tacomaconventioncenter.com.

The first phase of construction is expected to realize a minimum 4-star hotel with at least 300 rooms, in-hotel retail and 10,000 square feet of street level retail, 10,000 net square feet of grand ballroom space, and 9,000 net square feet of other function rooms within the hotel, while providing the Greater Tacoma Convention Center first right of use at market rate, not less than 200 private parking stalls and a plaza/grand entryway.

A second phase is also being contemplated by the developer, which would include a minimum of 200 condominiums and/or market rate apartments, at least 20,000 square feet of street level retail and not less than 200 private parking stalls. The developer may also construct commercial office space as part of the mixed use development.

– City of Tacoma