Just after Christmas, construction work will begin to erect a ramp from Commerce Street up to parking garage levels underneath Tacoma's Convention and Trade Center. By next March, work is expected to begin on a 300-room hotel within the rose-color section of this image.
City of Tacoma officials announced today that the beginnings of construction for a new hotel adjacent to the downtown convention center will arrive with Santa Claus.
A Chinese-based developer, Yareton Investment and Management LLC, has gained federal EB-5 recognition of its planned 22-story, 300-room. 4-star hotel project, plus in-hotel retail and 10,000 sq. ft. of street level retail. This means the company can now solicit foreign investors to participate in the project, in return providing them immigration benefits.
The first site work will be construction a ramp from Commerce Street up to the parking garage below the Convention Center, so it can continue to operate without disruption during an estimated two years of construction for the hotel.
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