Updated Jun 24, 2009 - 12:15 pm
Tacoma's Esplanade condo faces foreclosure
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Development on Tacoma's Foss Waterway has hit a snag.
The $80 million Esplanade, a huge, new condominium, is facing foreclosure in August. People living in nearby condos worry what this might mean for the future.
"I think somebody will come in and grab it and do what they need to do, but I think right now with the economy it could be bad timing," said one woman who lives at the Landing. The News Tribune reports only 10 of the 162 condos at Esplanade have sold and none of the retail space has been leased.
Esplanade units facing the waterway start in the $300,000.
Plans for an adjacent hotel are on hold.
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