What Will Become of the Winthrop?
Once upon a time, not that long ago, the Winthrop invoked ideas, dreams, and ambition. There were early morning meetings, competing offers, and a decent civic debate about gentrification and the role of low income housing in our city. Now we have bankruptcy courts, attorneys, and an endless array of uncertainty for nearly every stakeholder.
The News Tribune has an interesting piece on the current status of the Prium owned Winthrop Hotel. In the latest chapter, Winthrop Hotel LLC has filed for Chapter 11 bankruptcy to force its bank to renegotiate. This filing is separate from the bankruptcy proceedings already wrapped tightly around Prium and its projects. It’s a complicated mess that goes beyond a simple inability to pay its bills.
That said, and after you read the story, what would you hope for the Winthrop?
Link to The News Tribune
And, if you want the messier background on Prium’s current state, check out this story from a few months ago in The News Tribune
Previously on Exit133: SEARCH
Filed under: the-winthrop, dowtown-tacoma
5 comments
J Jesse November 3, 2011
Hopefully it goes into foreclosure and it’s auctioned off to someone who can do something with it. Perhaps the auction price will be so low that restoring it as a grand hotel would pencil out. One can dream…
C Chris Karnes November 3, 2011
I wouldn’t mind seeing a change of use from residential to commercial. I’m thinking of office space for entrepreneurs. Whatever is done with the building is going to require a lot of capital — and I’m just not sure where that could come from at this point.
A Angela Jossy November 3, 2011
I would love to see it split up into hotel rooms on the top floors, condos in the middle and low-cost apartments for artists near the bottom. This building has potential to be the artists live/work building that Tacoma has long been dreaming of because it has that lovely ballroom for events and so many retail spaces around the bottom. Plus it already has two restaurants attached to it which could become a great resource for ordering room service! :)
C Christine November 3, 2011
I love Angela’s idea. I’ve been inside and viewed the penthouse and ballroom. Gorgeous spaces going to waste, it could easily be the beautiful building it once was. Maybe the McMin/Elk’s building rehab will help drive the renovations? My fingers are crossed.
J Janice November 5, 2011
Sadly, McMin’s renovation of the Elks Club includes plans to destroy that building’s ballroom.
I’m curious if the Winthrop is on the city’s Historic Register… not that this would protect it from demolition… though that commission is looking for new blood which will perhaps bring a stronger spine to the group.