Once agreement is reached with the EPA, the public will have a chance to comment on the plan.
After that, Cohen will begin negotiating the planning and regulatory processes in Ruston and Tacoma.
Cohen says he doesn't know what kinds of prices his homes might fetch, but he expects to offer "some million-dollar units and some substantially less than that."
He's hoping to begin construction with 34 custom single-family homes on Stack Hill on the upland portion of the property and complete the project in about eight years.
Along the way, he says, he'll work with Metro Parks, Tacoma and Ruston on several projects. Included on that list are the closure of the Asarco tunnel, the rerouting of Ruston Way, the development of Peninsula Park and amenities along the esplanade.
His work will not involve cleanup of any residential properties affected by Asarco. But he says his plans are sensitive to the two-decade struggle to clean up land with some of the best views in the South Sound.
"We want to do the next big project, and what that really means is you've got to do it right," he said.
Here's a glimpse of what developer Mike Cohen envisions for the Asarco site.
800 Residential units
5 Mixed-use buildings with condos,
commercial and retail uses
34 Single-family homes on Stack Hill
1 Fitness center, open to the public
10 Acres of waterfront dedicated
to public use
63% Open space, including esplanade,
Crescent Park and other parkland