X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TACOMA, WA-City officials have decided to delay further negotiations with Cosmos International to build an office complex near the Tacoma Dome in lieu of proceeding with the LeMay Museum development.

Late last month, museum officials sent a letter to the city council, saying they might look to house the 500,000-sf project elsewhere if they can’t reach an agreement by the end of June.

The city has donated approximately five acres of the Tacoma Dome parking lots on D Street for construction of the new museum. Estimated costs for the completed project range from $80 to $100 million.

The museum will house the automobile, artifacts and memorabilia collection of Mr. and Mrs. LeMay. The Guinness Book of World Records lists the LeMay collection as the largest private automobile collection in the world.

As for the Cosmos development it is to rise on southwest edge of the Tacoma Dome parking lots. The 1.2 million sf project, would be built over the course of 18 years and include three office buildings, retails shops, condominiums and a hotel.

The city is to exchange two city-owned parking lots for 800 replacement parking spaces during four phases of development. The first phase of development was due to wrap in 2005.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.