Tacoma’s time has come.

That’s the sentiment of Homer Williams, one of the heads of the urban housing development company Williams and Dame. The firm is one of two remaining companies competing to redevelop part of the Thea Foss Waterway in Tacoma.

The firm was also one of the driving forces in transforming a forgotten warehouse and rail yard area into Portland’s attractive Pearl District. Williams said they hope to do something similar in Tacoma. “Tacoma is about where the Pearl District was six or seven years ago,” Williams said.

The Williams and Dame proposal for the Thea Foss development calls for a five- to seven-story hotel, and a nine- to 10-story condominium building. Williams said the structures will high quality and strong architecturally, using materials such as steel and concrete.

“I think the market is such that it’s willing to accept the type of product that we build,” he said. The Thea Foss Waterway Development Authority is scheduled to select a firm for the redevelopment project in March.

Right now, Williams and Dame is finishing the site work and will break ground this year on 600 units as part of the city of Portland’s North Macadam Urban Renewal District. Williams said the project will feature 200 condominium units, 200 market-rate apartments and 200 affordable housing units.