A Tacoma tow-truck owner is asking for a record $3 million in cash to turn his Tacoma Tower Hill into a parking lot.
Steve Cusack said he’s selling the business and intends to use the proceeds to buy land on which he plans to build a parking garage, a retail space and a residential tower.
Cusack, who owns a trucking company and a tow company, said he will pay a “tow-tow” rate of $4.85 an hour to operate the Tower Hill at the Everett location for the next seven years.
Cushman and Day said the lease agreement would not expire after the lease ends.
The company said the Tower Hills lease expires on March 30, 2022.
The lease will be the last one on the property.
The Tower Hills were once the tallest and most luxurious commercial towers in the nation.
They were the centerpiece of a waterfront district where the Tacoma Convention Center was built and the Tacoma Dome was built.
The Tacoma Tower Hills are listed on the National Register of Historic Places.
Custody for the tower is now with the state of Washington, and the tower has no plans to demolish it.