Tacoma Urbanist

Mar. 20, 2008 at 1:04pm

Olympus Hotel Lawsuit Settled; Hotel Sold To KWA?





I can verify that the lawsuit against Olympus Hotel has been settled by the court filing in Pierce County Superior Court on 3/7/2008.  Although the order of dismissal can be viewed, the terms of the settlement are not of public record.

Today, I was told by a person most would find credible that the Olympus Hotel has now been sold to the Korean Woman's Association who have been looking at the property for some time.  The sale following the dismissal seems reasonable. 

Take that information for what it is worth. Any sale has not shown up at the assessors web site yet.  I am sure we will hear more about the issue later.

comments [8]  |  posted under tacoma, washington

Comments

by NineInchNachos on 3/20/2008 @ 1:28pm
fingers crossed. Good luck KWA :)

by Erik on 3/20/2008 @ 1:30pm
An end of a chapter downtown and a start of a new one in many ways.

Let's hope the future chapters are better.

by Erik on 4/18/2008 @ 9:25pm
Today, I was told by a person most would find credible that the Olympus Hotel has now been sold to the Korean Woman's Association who have been looking at the property for some time.

Today, it looks increasingly likely that my source was correct as KWA Executive Director Lua Pritchard will give an update on the Olympus Hotel to the City of Tacoma Neighborhood and Housing Committee on Monday April 21 at 4:00 p.m.

131.191.130.69/cityclerk/Files/CouncilCo...

by Erik on 8/3/2008 @ 12:18am
Update:

For those interested, the Neighborhood and Housing Committee is hearing a presentation on the status of the Olympus Hotel on August 4, 2008 at 4:30 p.m.

cms.cityoftacoma.org/cityclerk/Files/Cou...

Lua Pritchard from the Korean Womans Association will be presenting something which will almost certainly include an update on the status of the purchase of the property.

The assessor still lists the property in the prior owners name.

by Erik on 8/4/2008 @ 6:34pm
8/4/2008 Update

Looks like the Olympus Hotel is sold, hopefully creating a better future for the building. Good luck KWA!


You will need a bit of it.

M-M Olympus Hotel Limited Partnership of Bellevue agreed Monday to sell its ownership of the 49-unit affordable housing project in downtown Tacoma to the Korean Women's Association.

KWA Executive Director Lua Pritchard announced the signing of the purchase-and-sale agreement during Monday afternoon's meeting of the Tacoma City Council's Neighborhoods and Housing Committee.

The association, a multi-ethnic social services organization, had negotiated for more than a year to buy the 1909, seven-story vintage hotel.

blogs.thenewstribune.com/business/2008/0...

Interesting, they may find a tenant for the commercial space in the basement.

by Erik on 7/19/2009 @ 8:37am
The Olympus Hotel continues to see trouble:

The subject of a citywide manhunt was waiting for an elevator Saturday evening when he won a trip to the Tacoma police station instead.

Acting on a tip, officers rushed to the Olympus Hotel in downtown Tacoma to arrest Earl Lee Sherrod about 5 p.m., Tacoma police spokeswoman Det. Gretchen Aguirre said late Saturday night.


www.thenewstribune.com/topstories/story/...

Let's hope the KWA can get the property under control.

by morgan on 7/19/2009 @ 12:04pm
With KWA's plans of converting The Olympus to "over 55", one would hope that occurrences of criminals using the building as a refuge would decrease in the building.

by Erik on 7/19/2009 @ 2:20pm
With KWA's plans of converting The Olympus to "over 55", one would hope that occurrences of criminals using the building as a refuge would decrease in the building.

Interesting. I had suspected that they would but had not had it confirmed it.

Are you sure they are going to do so?