CA Firm Beats Out OR Developer for Foss Waterway Project

TACOMA, WA-Nearon Enterprises of Danville, CA beat out Williams & Dame of Portland, OR for the right to develop a hotel and residential development along the west side of the Foss Waterway in Downtown Tacoma.

The Foss Waterway Development Authority Board of Directors voted 4-to-2 in favor of Nearon’s $70 million proposal. Don Meyer, executive director of the development authority, tells GlobeSt.com that while the Williams & Dame $114-million proposal was better designed in many ways and included a superior quality of construction, Nearon’s willingness to pay cash for both properties up front and develop the projects simultaneously won it the assignment.

Essentially, Meyers said the board voted for the terms they liked knowing the design could be changed as Nearon works through the approval process. “When Nearon indicated they were willing to look at design changes, that gave us the window to say ‘if you’re willing to modify, we’re willing to go forward,’” says Meyers. “The project could end up more expensive than proposed.”