The Most Improbable Development in the Pacific Northwest
There is no development story in the Pacific Northwest quite like Point Ruston. A 97-acre former copper smelter site — contaminated, capped, and federally supervised — has been transformed into a $1.2 billion mixed-use community on the shore of Commencement Bay. It sits on the border between Tacoma and the Town of Ruston, and it has taken two decades to get where it is today.
This isn’t a story about a developer buying clean land and putting up buildings. This is a story about someone buying a Superfund site from ASARCO, agreeing to take over the cleanup, and then building a community on top of an environmental remediation project. The ambition — and the risk tolerance — required to do this is difficult to overstate.
The Superfund History
The ASARCO Tacoma Smelter operated on this site for a century, processing copper ore and leaving behind significant heavy metal contamination. In 2006, Point Ruston, LLC purchased the property and agreed to take over its cleanup and redevelopment, working in coordination with the EPA.
The remediation strategy was engineered: buildings and hard surfaces serve as part of the site’s environmental cap, preventing exposure to contaminated soils beneath. Every structure at Point Ruston is, in a very literal sense, part of the environmental remedy. The EPA’s Superfund Redevelopment profile for the Commencement Bay site documents the ongoing coordination between the developer and federal regulators.
What’s Built and Open
As of 2026, 670 residences have been completed, including an assisted-living facility. The commercial component includes 115,000 square feet of completed retail and restaurant space, with roughly 800 more residences under construction along with additional commercial space.
The development’s amenities include:
Cinemark Century Point Ruston and XD — A 9-screen cinema at 5057 Main Street with luxury recliners in every auditorium and an XD premium large-format screen. Currently operating.
The Waterwalk — A $150 million mixed-use lifestyle center at the heart of the project, featuring over 250,000 square feet of space with restaurants, cafes, bistros, a wine bar, and retail shops. The Waterwalk also includes a nearly mile-long public pedestrian trail system along Commencement Bay, which opened in 2012.
Dune Peninsula Park — Constructed by Metro Parks over the capped remediation area, Dune Peninsula opened July 6, 2019. The park provides public waterfront access and connects to the broader trail system along the bay.
What’s Coming
The development is not complete. With 800 additional residences under construction, Point Ruston is roughly halfway through its residential buildout. The final vision includes a hotel, additional commercial space, and continued integration with the public park system.
The most significant infrastructure development on the horizon is transit access. Sound Transit’s Link light rail system is extending along the eastern edge of the development, with construction nearly complete. This light rail connection will put Point Ruston residents and visitors within walking distance of a station that connects to the T Line and, eventually, to the regional Link system reaching Seattle and SeaTac Airport.
The Development Economics
Point Ruston’s economics are unusual because the developer carries remediation costs that conventional developers don’t face. Every phase of construction must be coordinated with EPA oversight, and the site’s cap must be maintained as a condition of the environmental remedy. These costs are embedded in the project’s capital stack, which means the residential and commercial products must command premium pricing to justify the additional complexity.
The McBride Cohen Company, which is involved in the project, has described Point Ruston as a comprehensive mixed-use community that transforms a contaminated industrial site into a vibrant waterfront destination. The development has attracted institutional-quality tenants — Cinemark, national restaurant chains, and professional service firms — which signals that the market has accepted the premium pricing and the Superfund-adjacent risk profile.
What This Tells You About Tacoma
Point Ruston is a proof point. If you can build a $1.2 billion community on a Superfund site, you can build anything in Tacoma. The project demonstrates several things about this market: capital is available for complex deals, the regulatory environment is navigable (even with federal oversight), the residential demand exists for premium waterfront product, and the commercial market can support destination retail and dining outside of downtown.
I drive past Point Ruston regularly. Every time I do, there’s a new building going vertical or a new commercial tenant fitting out a space. The pace of construction has been steady, not speculative — each phase follows demand rather than racing ahead of it. That’s the discipline of a developer who knows the carrying costs of environmental remediation don’t allow for empty buildings.
Frequently Asked Questions
What is Point Ruston in Tacoma?
Point Ruston is a 97-acre mixed-use development on Commencement Bay, straddling Tacoma and the Town of Ruston. It’s being built on the former ASARCO copper smelter Superfund site and represents a $1.2 billion investment in residential, commercial, and recreational space.
Was Point Ruston a Superfund site?
Yes. The ASARCO Tacoma Smelter operated on the site for roughly a century. In 2006, Point Ruston LLC purchased the property and agreed to take over environmental cleanup in coordination with the EPA. Buildings and hard surfaces serve as part of the environmental cap.
What is open at Point Ruston right now?
Currently open: 670 residences, 115,000 sq ft of commercial space, Cinemark Century 9-screen cinema, the Waterwalk shopping and dining district (250,000+ sq ft), Dune Peninsula Park, and the mile-long waterfront pedestrian trail.
How many homes will Point Ruston have when complete?
With 670 completed and roughly 800 under construction, the full buildout will include approximately 1,470+ residential units across apartments, condos, and an assisted-living facility.
Will Point Ruston have light rail access?
Yes. Sound Transit is extending Link light rail along the eastern edge of the development, with construction nearly complete. This will provide direct transit access connecting Point Ruston to the T Line and eventually to the regional light rail system reaching Seattle.
Leave a Reply