Hotel Olympus goes to KWA?
The Tacoma Urbanist has posted that the lawsuit against the Hotel Olympus was settled, although terms aren’t available. He also has information from an anonymous source that the building has also been sold to the Korean Woman’s Association. You may recall that they’ve been interested in the building for a little while now. So, what happens next?
Previously on Exit133
Link to Tacoma Urbanist
9 comments
C Crenshaw Sepulveda March 20, 2008
If this is true it will be very good for the Olympus’ part of downtown. The KWA runs a very tight ship and many regular landlords all over Tacoma could take a page out of their book. I get the feeling that the Olympus will end up being both low income and market rate (lower market rate).
It was hoped that the Olympus would originally attract low income seniors. That did not materialize. The original operators then switched to seniors and disabled and then included ordinary low income. Combine that with poor case management and we have the disaster known as the Olympus. I can only hope that Prium stops sitting on the Winthrop and lets the KWA take a crack at it.
There is no reason to exclude the low income from the downtown core. The KWA has proven that good neighbors come in all racial groups and income categories. The poor hate crime and victimization as much as the next guy. Mixed very low and lower income is the way to go for the Olympus. Lower income workers living and working in downtown will be the best thing to happen to downtown.
R RR Anderson March 21, 2008
Amen Crenshaw
E Erik B. March 21, 2008
The KWA runs a very tight ship and many regular landlords all over Tacoma could take a page out of their book. I get the feeling that the Olympus will end up being both low income and market rate (lower market rate).
Everyone is hopeful that KWA will run the Olympus better. Hopefully, they will not have a use which is any more impactful to the area. The Olympus has had far more than its share of problems over the last few years.
Lower income workers living and working in downtown will be the best thing to happen to downtown.
As for the Olympus, it is forced to stay 100 percent low income housing because of the tax credits which are on the building. Its complicated but that’s my understanding of it.
I don’t know how many people work downtown who live in the Olympus or Winthrop but I don’t it is very high percent.
There is no reason to exclude the low income from the downtown core.
I don’t think you have to worry about that. Its around 90 percent in the 2 block area around 9th and Commerce now.
M Mofo from the Hood March 21, 2008
The Olympus is advertised on Craigslist with studio apartments starting at $450.00 month.
R RR Anderson March 21, 2008
if any future City Council politicians wanted to be hardcore they’d move into the Winthrop or Olympus as a ‘bold move’
C Crenshaw Sepulveda March 21, 2008
So first we have the take back of Frost Park and then we start the take back of the Olympus. The apartments there are not bad, kind of strange layouts because it is a hotel conversion, but I suspect some of our readers are low income enough to live there. I suspect they are qualifying by income and what is considered low income might surprise a good many people here. I’m with RR, some one from the City Council should rent in the Olympus.
A Andrew March 21, 2008
I’d offer to help out and rent a spot, but I already served my cheap apartment tour of duty over at the Vintage.
R rich March 22, 2008
Sorry, but the only option for that area of town to succeed is for the Winthrop to become a hotel again…..to have a building that large full of low income, no matter how much you want it too be a mixed downtown, is terriable for that area………we need the Winthrop to be a great hotel…….it is the anchor in that area……very bad for the anchor to be lowlowlow income housing……if it is, the area is low low low income area and drags the whole area down……..we have topped in developement in that area due to the winthrop……..once it switches that area can reach the next level…and sorry guys, once again, in the CORE, the rents are high…get over this low income thing in the core……….
C Crenshaw Sepulveda March 22, 2008
It seems to me that this business of high rents in the downtown cores is a recent kind of thing. For many decades the downtown cores were the lowest of the low rent districts. I think what rich is saying is that we have to make downtown high rent so that it drives out the poor people, get rid of those nasty poor people and downtown can be a playground for those with plenty of money. History, rich, is not on your side on this one.
Maybe the desire is to go upscale with downtown and it may very well go that way, but only because those with money desire it to be that way, not because there is a historical basis for it. The problem with doing this with Tacoma is that it has not gone through the proper stages. For downtown Tacoma to attract the high end renters and buyers there needs to be something worthwhile to attract these people downtown, more than vague advertising going on about the incredible “urban lifestyle” awaiting you downtown. The promise of an “urban lifestyle” is not exactly the same as an actual “urban lifestyle”. Those of modest incomes can be the back bone of what becomes a so called urban lifestyle.