Seattle & Northwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
$1.2B Point Ruston Development in Tacoma Resumes
The $1.2-billion Point Ruston mixed-use development near Tacoma was cleared to resume construction, following an earlier stoppage when businesses in the State of Washington closed due to COVID-19 orders. The 97-acre development is planned for roughly 1,800 residences and 500,000 square feet of commercial space.
MC Construction Consultants Inc., is developing the former Asarco Superfund site. The developer believes the exemption to deem the project essential was based on the fact that Point Ruston is a Superfund site.
The developer, which acquired the site for roughly $6.2 million, is spending $28 million to clean up the property. Previously, Asarco spent more than $100 million on the cleanup.
So far, 670 residences, including an assisted-living facility and 115,000 square feet of commercial space, have been completed at Point Ruston. Roughly 800 more residences are under construction, as well as additional commercial space.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development



