Sheraton To Buy Bicentennial Pavilion?

The News Tribune is reporting that the Sheraton could buy the Bicentennial Pavilion under a proposal that will pass before council this summer.  What’s intriguing in the story is the concept of price.  Some parts of the property are effectively valueless due to long term $1 leases dating back to the 1980s – the glory years of downtown Tacoma…  The Pavilion itself needs updating to the tune of a few million dollars.  So, what’s in store?  Apparently an exploration of mixed use options.  Retail.  More hotel rooms.  Commercial space.  This opens up some intriguing opportunities for the area. 

Link to The News Tribune