Work Stops at The Commencement?
The Commencement, a luxury condo project in Ruston, has stopped work while it renegotiates its financing according to the TNT. The original construction loan was held by United Commercial Bank of California. That bank’s assets were assumed by another bank and the developers are now being asked to requalify for their money. In the meantime, the finish work has stopped.
At least it’s further along than some of the other projects in town.
Link to The News Tribune
Filed under: ruston
9 comments
C crenshaw sepulveda May 7, 2010
I just don’t think I’ll say anything. I do hope that the big winner in the Pantages raffle get their condo when the drawing is held.
H Halley May 7, 2010
I feel like this is almost a joke by now — there goes yet another “luxury condo” project!
C CA May 7, 2010
When this project first started I remember asking my brother and friends, “who’s gonna buy these things?”
C captiveyak May 7, 2010
I’m not saying anything either. But that building is hillarious. Trust me. Drop-dead hillarious. I need a drink. Of water.
M Mofo from the Hood May 7, 2010
It seems that a few years ago there were various official reports predicting a large increase in population in the Tacoma-Seattle area within the next 10-20 years. Therefore more housing was needed and the age of stainless steel and granite appointed multi-family housing came to the fore in this region. Even still, the marketing of dazzling new condos in Seattle is a weekly part of the Sunday edition of The Seattle Times newspaper.
Nearby Ruston is far more remote but I always thought the redevelopment of “that zone” was a worthwhile cause, and it aims to prepare for a higher income population.
Is it just me, or does everyone who passes through that zone think “Millionaire Country?”
A Altered Chords May 7, 2010
It’s not just you mofo. I guess I’ll need to continue enjoying my Lincoln district Lifestyle while I wait for my Commencement Lifestyle.
C crenshaw sepulveda May 8, 2010
I’ll take the “Lincoln District Lifestyle” any day of the week, best neighborhood in Tacoma, period.
A Altered Chords May 8, 2010
It really is great. Community based services has had an impact over the 1.5 yrs I’ve been here. While I was out running I was thinking of a way to apply pressure on H.U.D. to do something w/ the P.O.S. house that’s been vacant and boarded up on my street the whole time I’ve been here.
I’m thinking of mowing the lawn and sending HUD in Kent, WA (owners listed address) a bill for my services.
Altered Chords Productions lawn maintenance division.
C cabochon May 13, 2010
The least they could do is move the fence in front of the failed project toward the sidewalk a bit. There is nowhere for bicycles to go without slowing cars down, and it gets a bit scary.