Potential $100 Million Boost for Brewery District Development

Here's some potentially exciting news for downtown Tacoma development: a group of real estate investors may give the neighborhood a $100 million boost.

The Business Examiner reports on tentative plans from a group of investors they're calling the "Brew Crew," including PJ Hummel of event planning firm PJ Hummel and Company; Denny Anderson of Real Estate Investment Services; and John Lewis of real estate development company AmmGen. According to the Business Examiner, the 'Crew' is looking at the City-owned properties that include the old City Stables buildings, among others.

Together, the “Crew” is seeking to repurpose a trio of surplus properties — currently being used for storing supplies and trucks for the City of Tacoma Public Works Department — with a master plan that includes a craft microbrewery and distillery, a market with fresh produce and seafood, and a multifamily housing complex. Their vision also involves an emphasis on the arts, including the incubation of area entrepreneurs and artisans so the district can become a focal point where local wares and businesses can be showcased.

Tacoma's recently completed South Downtown Subarea Plan calls for just this sort of mixed-use, arts and small business-focused development in the Brewery District, but the Crew's plans will still have to get City approval. Minimum requirements will have to be met, including 

Pay the minimum bid amount(s).
Establish Financial Capacity for acquisition and development.
Consistency with the City's South Downtown Subarea Plan

The City issued an RFP for its Brewery District properties back in November, at which time it sounds like interest from the investors was already stirring. We'll hope to know soon what the City's decision is on the Brew Crew proposal. In the meantime, residential units, retail, a craft brewery/distillery and a market? Is anyone else excited about the potential for real development in the Brewery blocks?