Saving the Luzon. Again.
In today News Tribune, Dan Voelpel has an article about the ongoing battle to save the Luzon building from falling into such a state of disrepair that it is no longer salvageable.
Why do we care about the building? It’s unlike anything else left in downtown. Plus, it was designed by Burnham & Root. Daniel Burnham was a significant architect who designed some of the first skyscrapers and had a major influence on the look of Chicago in the last century (Devil in the White City, anyone?). But to some, it’s more simple. A lot of folks we meet have memories of that block from its seedier past to its life as the Fun Circus and the Golden Chopsticks. To see this building go will erase that part of Tacoma entirely.
Horizon Partners, who has owned the building for a few years, is looking to sell, possibly to the Gintz Group, who have restored 732 Broadway and are working on restoring the Mecca. However, for this sale to occur, the article details a long lists of requirements.
According to Gintz:
It’s a nightmare to rehab. Selfishly, we see it as kind of our trophy building for the Gintz Group. It’s kind of an ego-driven thing for us. Beyond that, that’s not something you launch forward on as a profit center or other people would have done it already.
I’m sure you have a few thoughts…
3 comments
N NEAL January 2, 2008
Isn’t it sorta simple?
There’s a spot here: http://www.thenewstribune.com/business/columnists/voelpel/story/233373.html
And a spot across the street where the old laundry mat used to be.
What do you say? 20 stories of class A? Do it under the federal empowerment zone Federal program and pay no capital gains stuff. Have them build it as Russel, sell it to their parent company after a few years (provided we maintain the EZ status), or its real estate subsidiary, pay no capital gains.
of course, I’m just an armchair observer ‘round here.
Mr. Urbanist what do you think?
R rich January 3, 2008
well when you replace it, please don’t waste space……it’s in the core anything less than 20 stories will be a waste……..if the market doesn’t dictate it yet, don’t do anything then until it does….to replace it with another useless low structure is an insult to the core of downtown….
R rich January 3, 2008
in other words, lets get some vision for downtown………….of course everything is on hold until the Russell decision……