Monday, October 02, 2006

Winthrop Hotel Effort Gathers Steam

Since most of our readers are unlikely to attend the ongoing meetings held at 6:00 a.m. on the Winthrop Hotel project by Tim Quigg's group of local investors, Derek Young of plans to put up a new web site that will offer regular progress reports on the project--when that venue comes online, we will offer a link.

As a service to downtown stakeholders and others, today we'll summarize progress on the efforts by Quigg and his team to renovate Tacoma's answer to Spokane's Davenport Hotel. About 35 investors and other professionals met this morning; each individual was asked to relate how they were helping the effort gather steam. Among the responses:

  • Chester Trabucco, Tom Absher (Absher Construction) and others are developing a pro forma for the hotel renovation based upon plans being developed by Brian Fitzgerald of Thomas Cook Fitzgerald Architecture;
  • Principals will be meeting tomorrow with representatives from the Tacoma-Pierce County Affordable Housing Consortium to help delineate a plan--with assistance from real estate expert J.J. McCament--for relocating the Winthrop's current low income tenants;
  • Erik Bjornson and others are creating a legacy fund, with half the money reserved to buy artwork and antiques to grace the new hotels public spaces;
  • The City of Tacoma is establishing a Project Review Team to speed permitting for the projects resulting from this activity.

The group's pro forma currently anticipates 7500 SF of retail space, 40 condominium units and 130 hotel rooms, including a Presidential Suite on the 11th floor.

This project offers an exciting opportunity for the advocates for more affordable housing downtown to create a "win/win" that will help both low income residents and business interests.

1 comment:

  1. No turning back now folks.

    Today's meeting was great as a full transition was made from planning to implementing the restoration of the Winthrop Hotel!