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Old Posted Jan 7, 2008, 9:35 PM
jake840 jake840 is offline
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Old City Hall For Sale - Tacoma

One of Tacoma's most famous icon buildings, the Italian Renaissance style Old City Hall, is up for sale.


photo from the Tacoma News Tribune

Tacoma Daily Index Article:

"Stratford purchased the 115-year-old Italian Renaissance building in May 2005 for $3.76 million, and planned to convert it into a 48-unit condominium complex. In late-2005 and early-2006, all but two of the businesses that occupied the building had moved out.

In August 2007, however, Stratford announced it would convert the building into historic Class A office space. The building once served as an indoor bazaar for small vendors. Monday's listing, which includes a sale price of $6.95 million, puts the future of Old City Hall in limbo. "



photo from carpenoctem.tv

You can also build a 3-D model of the Old City Hall Building. How fun is that?


Interior Shots from the Photo Safari

The Stratford Company also owns the 82-year-old Washington Building in Downtown Tacoma which it is doing some renovations on.

photo fomr www.wamee.com

From the above article:
In a tight downtown commercial real estate market, where the vacancy rate on Class A space hovers around one percent (with no immediate plans to build a new high-rise)

Last edited by jake840; Jan 7, 2008 at 9:47 PM.
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  #2  
Old Posted Feb 15, 2008, 5:52 PM
jake840 jake840 is offline
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According to Colliers website Old City Hall is under contract.

That sure did move fast.
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Old Posted Mar 11, 2008, 7:42 AM
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Quote:
Originally Posted by jake840 View Post
According to Colliers website Old City Hall is under contract.

That sure did move fast.
I'm almost sure that someone had plans on the OCH since 2006 or at least mid 2007. I listed it in a project run-down. Did something fall through and this is the latest attempt?
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Old Posted Mar 12, 2008, 1:07 AM
jake840 jake840 is offline
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It was slated to be condos. The building has the 10 year tax exemption in place. They had some delays starting renovation for condos because there were still office tenants with leases that wouldn't leave. They couldn't start construction do to the language in the leases.
Condo market softened and then the plans changed to put the building back to office space. Then it changed again and went up for sale. The building went Pending a little over a month after it was listed.

Just read this in the Biz Examiner:
Colliers International broker Eric Cederstrand has announced that Tacoma's Old City Hall building is currently on its way to becoming a grand, "historic" Class-A office complex.

"The banks are very conservative right now," said Cederstrand. "We're starting to feel a little bit of the pain from subprime lending issues and what's happening on Wall Street. Lenders have put on their conservative hat, and it's definitely starting to effect commercial projects."

Office projects, however, are faring better. Nearby, design is underway for a massive renovation of the Old City Hall building, which was expected to be converted from office to condos by Seattle-based The Stratford Co. That project ran into trouble and the building was put back on the market. Though he couldn't name names today, Cederstrand said he has several tenets on a string, and multiple buyers showing interest. Cederstrand and partners are in the midst of the design, which will include gutting several of the largest interior sections to make room for tenants interested in substantial spaces.

"When it's done, it will be one of the greatest office spaces in Tacoma," he said.

Last edited by jake840; Mar 12, 2008 at 1:25 AM.
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Old Posted Mar 12, 2008, 5:23 AM
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what building is the city hall in now?
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Old Posted Mar 12, 2008, 6:02 PM
jake840 jake840 is offline
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Old Posted Mar 13, 2008, 4:04 AM
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I have always loved this building. Across the street is the Spanish steps that run up the way of the old Elk's Lodge building. Many years ago, the city of Tacoma proposed building a retail center in the surface lots across from Old City Hall. Something still needs to fill in that space, but Tacoma has great architecture to work with. The new convention center is okay, the hotel below it is awful. I hope that the character of the area is maintained while infill occurs.
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