I'm waiting for confirmation from the new owners, but two gentlemen stopped by Don's Market when I was there on Wednesday and announced they were with the investors group, which had just closed the sale on The Commencement building over the previous weekend. I was involved in another conversation and did not get the chance to follow up with them personally. They mentioned a press release would be coming soon.
You will recall that Onward Investors LLC secured changes to the development plan from the town council in September (details here). That approval from Ruston did not mean financing was secured or a sale agreement finalized. I'll get more details as soon as I can.... Karen
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8 comments:
I heard that they may become section 8 housing? Any info on that front.
I'll check, but I seriously doubt this building would end up as subsidized housing like Section 8.
Such a ridiculous comment could only come from a cabal loser. Another bright step forward for Ruston.
I had heard from more than one source, that some of the housing at Point Ruston was reserved for Low Income in order to get subsidies from Tacoma to continue construction. Hearsay of course, but it is what I heard.
This may be what has confused Anonymous #1 into thinking the Commencement Investors would peruse the same substitutes in order to make their new acquisition pencil out?
Either way, I dont agree with Jim that this is "Such a ridiculous comment" and I dont find it particularly polite that he should call somebody a "looser".
Jim, I don’t think Ruston residents considering the possibilities of what may be, and posting questions to Karen warrant such an aggressive reply.
Its an honest question, and there are a lot of people curious about what is going on in our town.
Karen, can you confirm this Low Income Housing situation will not be a possibility?
(Anonymous said...
what is a cabal loser ?
November 13, 2011 3:16 AM)
I can answer this question also:
"cabal" is a term Jim used several years ago to describe a group of people who had differing political views and goals than he did.
It was a very dark time for Ruston and the fighting split the town in two.
The fighting has all but stopped and both sides have been non existent in recent years.
It is rather odd that he would continue to use this term.
At least I sign my name. Who are you?
Section 8 luxury apartments? Please don't insult my intelligence.
what is a cabal loser ?
Apparently you do not have a need to know or you wouldn't ask.
Cabal gone?
Don't attend many council meetings but showed up on Nov. 1.
If you would of witnessed the arm waving and calls to shut it down (Point Ruston) you would soon realize they are not gone and still intend to inflict maximum damage and slow down tactics. Even threatening arrests and to ram the gate.
Interesting the people on Stack Hill were not the ones complaining but one individual who lives about six blocks away.
The lights and noise are 90 feet down from the edge of Stack Hill and well away from the main part of Ruston.
This night work is rainy, cold and dangerous but hours are controlled and imposed by the EPA about midnite to 5am. This is still an EPA controlled site and Ruston has little say although you wouldn't know it by the caterwauling council.
And a funny point the rip rap restoration was all being done on the Tacoma side of the Point Ruston site.
For a fun night of entertainment and people people making fools of themselves attend a Ruston town council meeting.
A laugh a minute. 2011 budget deficit $306,000 Police budget $348,000. Makes sense to them I guess. For 100 years got along with one Town Marshall, yes ONE.
What is amazing is that half the meeting is counting on Point Ruston to save the town the other half how to close Point Ruston down. Make sense to you?
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