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Opus NW Drops one Project, Picks Up Another

TUKWILA, WA-Plans for the mixed-use development of Pacific Steps in downtown Tacoma ran their course only to end up at a dead-end. But that doesn't mean all is quiet at Opus. Yet another project is in the works, this one in Tukwila.

By Janet Parker | Updated on December 23, 2001

TUKWILA, WA-In 1999 Opus Northwest LLC secured an option to buy an entire city block on Pacific Ave. in downtown Tacoma, stretching between 15th and 13th Streets. The Bellevue-based company was set to shell out $1.9 million for the block, a surplus property of Pierce County. There it planned to develop Pacific Steps, a major mixed-use project.

Then the real estate industry began to tumble. And, Opus did what it could do adjust–including extending its option a few times for more time to assess viability and scaling back the scope of Pacific Steps more than once.

Then last month Opus Northwest LLC let lapse its final extension. Pacific Steps and the county’s hopes to dump the property appear dead in the water, at least for now. But Opus isn’t just sitting quietly as the bottom of the real estate cycle grinds by. Further north in Tukwila, Opus is moving forward with the planning of a flex/tech development called Opus Park 5/405.

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