If you’ve spent any time around Gig Harbor, you know Tides Tavern isn’t just another restaurant. It’s a place with history, views that never get old, and a role in the daily rhythm of the waterfront. That’s why the recent news that Anthony’s Restaurants is acquiring Tides Tavern—after 53 years of family ownership—caught the attention of more than just food lovers.
While the story itself is rooted in hospitality, the ripple effects extend into real estate, neighborhood stability, and long-term value along the Gig Harbor waterfront.
A rare transfer of both business and real estate
According to reporting from the Puget Sound Business Journal, Anthony’s Restaurants is purchasing not only the Tides Tavern business, but also the underlying real estate at 2925 Harborview Drive. That alone makes this transaction notable. Waterfront properties of this caliber don’t change hands often, especially when they’ve been held by the same family for more than five decades.
The property includes a nearly 5,000-square-foot restaurant situated on roughly a third of an acre, along with a sizable dock that allows for boat-in dining during the summer months. Pierce County records place the taxable value of the property at approximately $1.3 million. The deal is expected to close in early 2026, and importantly, Anthony’s has committed to retaining the full staff and existing management team.
That last point matters more than it might seem at first glance.
Why continuity matters for surrounding home values
When a legacy business sells, one of the biggest unknowns is what comes next. Will the use change? Will the character of the area shift? Will increased traffic or redevelopment disrupt nearby neighborhoods?
In this case, Anthony’s has made it clear that continuity—not reinvention—is the goal. They’ve taken a similar approach with past acquisitions in the South Sound, keeping operations largely intact while providing long-term stability behind the scenes.
From a real estate perspective, that stability is meaningful. Neighborhoods anchored by well-run, established commercial spaces tend to hold their appeal over time. For homeowners near downtown Gig Harbor, this helps preserve the walkable, community-oriented feel that draws people to the area in the first place.
A signal of confidence in the waterfront
Anthony’s isn’t a speculative buyer. As a long-standing Northwest operator with deep roots in waterfront locations, they tend to be selective and patient. Choosing to invest in Gig Harbor—particularly at a site this visible and historically significant—signals confidence in the area’s long-term fundamentals.
For buyers and investors watching the South Sound, this aligns with a broader pattern: continued interest in waterfront-adjacent communities that offer lifestyle, charm, and limited supply. Gig Harbor checks all of those boxes.
These kinds of moves don’t typically create overnight price spikes. Instead, they quietly reinforce demand and help explain why well-located homes near the harbor continue to be resilient, even when broader market conditions shift.
What this means if you live, buy, or invest here
For homeowners, this transaction supports what many already feel intuitively: proximity to the waterfront and established local amenities remains a strong foundation for long-term value.
For buyers, it’s a reminder to look beyond just the house itself. Neighborhood context—walkability, commercial anchors, and how areas evolve over time—plays a big role in livability and resale.
For investors, deals like this suggest that patient, long-term strategies in the South Sound waterfront corridor are still very much in play, especially when paired with realistic expectations and solid underwriting.
Paying attention to the quiet signals
Not every important market indicator shows up in monthly stats or headline-grabbing developments. Sometimes it’s a thoughtful, well-capitalized buyer stepping into a legacy property and choosing to preserve what already works.
I keep an eye on transactions like this because they often say more about the health of a neighborhood than any single data point. If you’re curious how changes along the Gig Harbor waterfront—or elsewhere in the South Sound—could impact your home, a potential purchase, or an investment decision, I’m always happy to share what I’m seeing.
