TACOMA, Wash. — The Puyallup Tribe has expanded its portfolio with the purchase of over two acres of land on Tacoma’s Ruston Way waterfront.
The land holds the Ram Restaurant & Brewery, but the land purchase doesn’t mean the popular restaurant is going anywhere.
The Tribe says it plans on leasing the restaurant back to the previous owner.
In a statement, the Tribal Council said that this deal “will benefit everyone involved. The Tribe will benefit by diversifying our economic base and generating revenue, and a popular restaurant will stay open.”
The acquisition adds to the Tribe’s significant presence in Pierce County’s economy.
The Puyallup Tribe is Pierce County’s fifth-largest employer, and its subsidiaries help generate over $700 million per year and employ 4,300 people.
But it’s not just about economic development.
Since Tacoma is the Puyallup Tribe’s ancestral land, protecting the environment has also been a main concern.
Tribal Council Chairman Bill Sterud stated the tribe “wants partners who share our commitment to protect the environment and respect our heritage. Our Economic Development Team is actively looking for such partners who want to share and grow in our prosperity.”
The restaurant owners echoed the Tribe’s outlook on the purchase, releasing a statement saying that “this is a mutually beneficial arrangement — and we’re looking forward to many more years of great food and award-winning beer on the waterfront.”
The Tribe also announced that it intends to put the land into a trust within the next several years, meaning that the land would be held for the benefit of the Tribe and Tribal members by the federal government.
While the Ram is staying open, the Tribe doesn’t have plans to reopen C.I. Shenanigans.
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