Voelpel on Foremost Dairy Plans
Dan Voelpel’s Sunday column touched on a building that seems to come up more and more in conversation – the Foremost Dairy building at South 25th and Pacific.
What’s the story? Henry Liebman, the largest private landowner in the SoDo district of Seattle, purchased the building in March. He’s looking to redevelop the site into something new and shiny. There’s some conversation in there about foreign investment zones and such … but that seems less interesting than the modern retail and office project that would replace the art deco dairy. Yet … Life! Development! Activity!
Link to The News Tribune
Previously on Exit133
Filed under: dowtown-tacoma, foremost-dairy-building
7 comments
C CJ July 29, 2008
Finally new money. Thank you.
T tct2326 July 29, 2008
Im surprised there isnt more chatter about this. Is it because the man in charge is from Seattle? Seems like some good news to me, especially the times we live in.
A altered chords July 29, 2008
2 things I liked about Liebman’s comments.
1) he thinks the market is going to stink for a little while but he’s willing to take the risk of developing now. I doubt that it’s an uncalculated risk.
2) He thinks there is much more about Tacoma than the fact that rents are cheap here. That tells me that he thinks there is room for our lease rates to go up. If our lease rates do indeed go up, we (Tacoma) will see more speculative commercial development.
J jamie from thriceallamerican July 29, 2008
OK, I’ll provide a dissenting voice. It’s exciting to see some serious investment in this part of town, but I hate the concept. The Foremost Building is too damn cool looking to get all moderned up…
E Erik S July 29, 2008
Jamie, I hear what you’re saying. Liebman’s claim isn’t all that different from saying “I like antique furniture, because I can tear them apart and use the wood to make bland new chairs and dressers almost exactly like what I’d find at Target”. I think that the financials pencil about better with buildings than antiques, but it’s still rather offensive.
The problem that Tacoma faces is that there seems to be only one company (Gintz) interested in rehabilitating old buildings on any kind of scale. And there’s no way around the fact that downtown Tacoma is about one notch above dead zone status.
As I said earlier, I’m sort of torn when it comes to this project. I wish that this Liebman fellow would come in and build his new, Fred Meyeresque building on an empty lot. But apparently that’s not in the cards.
M Mofo from the Hood July 30, 2008
“Yes sir, Mr. Jujitsu, there is even plans to expand passenger train service very close to this building. Big American-style diesel train service. A smart investor won’t hesitate to secure a building in this booming area of Tacoma today. Now, Mr. Jujitsu, just put your okay right here on the dotted line.”
“Thank you Mr. Jujitsu. Please accept this token of my country’s appreciation. Here’s a framed copy of The Pledge of Allegiance and a 10-pack of imported mini American flags.”
A altered chords July 30, 2008
Is this Mr. Juijitsu from Brazil?