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April 17, 2014

Tacoma seeks deal for $200M project

TACOMA — The Tacoma City Council Tuesday voted to negotiate a development agreement with a local firm that has ties to Chinese investors for a $200 million hotel and condo complex near the Greater Tacoma Convention and Trade Center.

Yareton Investment & Management LLC, a subsidiary of Shanghai Mintong Real Estate Co., wants to build two towers. One would be 28 to 34 stories and the other would be 12 to 18 stories. The complex would house 300 hotel rooms, 150 to 220 condos, up to 60,000 square feet of retail and at least 400 parking spaces.

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