BY WEEKLY VOLCANO STAFF 6/6/25 |
This week Weekly Volcano caught up with Isaac Miller from Theory Real Estate (Theoryre.com) to discuss his perspective on the amazing transformation happening in South Tacoma. The 56th & South Tacoma Way corridor has emerged as one of Tacoma’s most vibrant nightlife hotspots with shopping, dining and live music. One of the major players in this revitalization is Theory Real Estate, who bet big when they bought and remodeled some of the key structures in the neighborhood.
1) When did the revitalization of the 56th/South Tacoma Way area begin? What was the vision behind it?
Before talking about our vision and energy infusion, I like to pay homage to the roots of the original South Tacoma. This neighborhood was forged with intention in the late 1800s and blossomed in the early to mid-1900s. It was designed to be a vibrant, walkable commercial district serving the rail and auto industries. Over time, as industry shifted, the energy began to fade—but the bones have always been strong.
In the mid-2010s, we (Theory) set our sights on South Tacoma Way. We saw both challenges and opportunity, and we came excited, ready to help set a revived tone (and support what already existed on STW with increased visibility and foot traffic). Our first investment on STW happened in 2017, but the vision for a revived South Tacoma Way began earlier.
Born and raised in Tacoma, I believed this dense corridor could become a place where art, business, and community collide. We didn’t wait for demand—we helped create it. As part of our early efforts, we launched the “STW Initiative,” a branding movement to give South Tacoma Way a shared shorthand and stronger visual identity. We collaborated with artist Ricky Loves Painting to create a bold “STW” mural on our 5243 STW building in 2020. We also painted address numbers on many of our buildings, each marked with “STW” or “South Puget Sound”—subtle signals to help spark community.
2) Who were the major players that made it happen?
South Tacoma’s revival has been a collective effort. Before we invested, there were anchors holding it down:
- Dawson’s Bar & Grill — a neighborhood institution since the 1980s
- The Airport Tavern — revitalized by Dan Rankin in 2012, bringing back live music and culture
- Real Art Tacoma — creating space for youth and underground creatives since 2014
- The Mule Tavern — reopened by Sam Halhuli in 2015, preserving history with grit and charm
When we began our investments in 2017–2018, our goal was never to outshine but to uplift. By acquiring and activating over a dozen commercial properties, we’ve helped tie the district together—creating opportunities for others to join in and plant innovative movements of their own, each filling a need.
Businesses like Fernseed (2019), Clean Cut Boys Club (2017), Intentions (2020), Church Cantina (2021), and Howdy Bagel (2023) have each added their own flavor. More recently, we’ve seen powerful additions like Bluebeard, Sober AF, HiveCo, Blackbird Apothecarie, Opal Lounge, Tacoma Night Market, Haunted Farmers Market, Airport Music Hall, Edison Square, and Radnor’s, each contributing to the inclusive, eclectic vibe of STW. It’s been great to be involved on so many levels!
3) What challenges needed to be overcome?
When we began, around 50 percent of the storefronts between 52nd and 58th sat vacant. We faced:
- Frequent break-ins and vandalism
- High crime and a lack of safety infrastructure
- Minimal outside investment or belief in the neighborhood
- Little city support at the time, especially for basic services
And truthfully, many of those challenges still exist. Today, we still take responsibility for daily upkeep. Our team members, Jaime and Rocky, clean the corridor three times a week, filling in where city services don’t. We’ve filled gaps, but there’s more to do—especially around safety, business support, and city investment. The South Tacoma Neighborhood Plan is a great start. We’re hopeful that it brings new resources and infrastructure to support the continued growth and vibrancy of the district.
4) How are the businesses in and around 56th and South Tacoma Way doing?
The short answer: many are thriving (all of them have obstacles they’re committed to overcoming). One of the reasons they’re thriving is because we’ve worked hard, as a community, to build an ecosystem that supports them—shared foot traffic, collaborative energy, and mutual investment in each other’s success.
At spaces like Beaker Collaborative, over 50 small (budding) businesses share a few large roofs on or around STW. Elsewhere on the street, restaurants, bars, salons, retail shops, and markets all contribute to thousands of weekly visitors, many of whom had never been to South Tacoma before the recent resurgence.
With consistently changing times, we must continue to support each other in our individual and collective growth, together filling gaps where we can for the community to thrive. We must stand up for each other and what is right in the face of fear, knowing that together we can overcome any obstacle thrown our way. We must cheer for each other and the success of our comrades. We’re better together.
5) Are there any challenges that still need to be addressed?
Absolutely. The corridor is growing fast, but infrastructure systems haven’t fully caught up. We still need:
- Stronger public safety infrastructure
- Traffic calming and walkability improvements
- Dedicated support for small business operations (from staffing to marketing)
While we’ve filled in some of the gaps ourselves, we can’t do it alone. We’re calling on the city and other leaders to invest alongside us, helping ensure the South Tacoma Way story continues to shine brightly.
6) Is there room for new businesses to move in? If so, what type of businesses would you like to see there, and what advice would you give them?
Yes—and the door is open. We have commercial spaces ranging from $300/month micro-offices to full-scale retail. We’re especially looking for:
- Late-night eateries
- Destination retail
- Operators who want to collaborate to create unique experiences
Our advice to new businesses:
- Be bold. Find your niche and go all in—Tacoma rewards authenticity
- Connect. Tacoma thrives on collaboration—work together to build better products
- Think destiny. Visualize your dream business, build it, and use it to fund your life
We’ve proven that STW can become a beacon of what’s possible when a neighborhood believes in itself. And our larger vision is this: If South Tacoma Way can be transformed through art, hope, and strategic creative activation, then so can Lincoln, McKinley, Downtown, and beyond. We’re ready to keep going—we just need more collaborators, investors, and dreamers to help us take this energetic, solutions-oriented model citywide. As we inspire Tacoma to dare differently, we will change the world around us.
