- Stack Hill: The building permit for the first model home has been issued and construction is underway. Since this is a model home, I'm not sure when the value will hit Ruston's tax base. The real estate excise tax is only charged when a property is sold. Point Ruston has applied for a second building permit for the next home.
- Waterfront: There was an update on one of the Tribune blogs about the new development on the south end of the site (in Tacoma) to be named Copperline. Permits on this development have been applied for and are under review. The City of Tacoma is expected to issue their final Supplemental Environmental Impact Statement (SEIS) this week. No building permits can be issued until the final SEIS is done.
So, Ruston got the first building permit issued (after at least 2 years of haggling). It's still possible that completion of the first building will be in Tacoma, but the Town would have to work really, really hard to make that happen. Personally, I think we'll see several homes underway on Stack Hill before the first Copperline building gets done. At least I hope so! What's your prediction? ~ Karen
(I just noted that Exit 133 has an update on this same issue today after Point Ruston made a presentation to Tacoma's Economic Development Committee yesterday. Check it out here...)