On Garfield Street in Parkland, a row of aging business buildings stands across the street from a modern college bookstore and commons signs of a neighborhood in transition.

The eclectic, two-block stretch wedged between Pacific Lutheran University and Pacific Avenue South soon could see its biggest change yet, with the help of a state-approved tax break.

Construction on a $20 million project to build 104 apartments, plus office and retail space, a block away from PLU is expected to start late this year. The apartments would contrast sharply with the lower-end rental units along the Pacific Avenue strip.

The project aims to attract PLU professors, staff members and other professionals to live near campus instead of in downtown Tacoma or Seattle, said developer John Korsmo Jr.

It will be a great housing opportunity to keep the people that are working in the community living in the community, Korsmo told the Pierce County Council last month.

PLU officials are excited, too.

I just think its going to change the whole vibe on Garfield Street, the entrance to campus, and be a wonderful place to live and work, said Sheri Tonn, the universitys vice president of finance and operations. But the four-story project, called Garfield North, has drawn some criticism because of the tax break that will help drive it.

State lawmakers this year approved a 12-year property tax exemption on the value of new residential housing on Garfield. The legislation was designed specifically for this project.

Roxy Giddings, who lives nearby, told the County Council the exemption is a big fat tax loophole. She said she fears shell have to pay extra taxes because of it.

Graham resident Matt Hamilton also objected. When you lower somebodys tax, you have to raise somebody elses tax, he said.

More:
Changes coming to Parkland's Garfield Street

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June 22, 2012 at 5:26 am by Mr HomeBuilder
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