Colliers International has been selected to handle the retail and office leasing assignment for Point Ruston, an estimated $1.2 billion waterfront development next to Tacoma's Point Defiance.

Plans are being designed for 120,000 square feet of retail space, 100,000 to 125,000 square feet of Class A office space, and 1,000 residential units. The development will also offer a 150-room waterfront hotel providing full service, four star accommodations and a waterfront promenade stretching for almost a mile along the shores of Commencement Bay.

Construction of condos and single family homes has already begun on the 97-acre site, with occupancy targeted for next fall.