GENERAL DESCRIPTION: The Port of Everett’s Waterfront Place Central development project is more than just a large scale real estate venture. The intent of the project is to unify the marina and surrounding property as one economic unit to create a sustainable and unique commercial, recreation and residential community.
This new community is pedestrian-oriented and takes full advantage of its attractive waterfront and recreational boating setting. It also supports the final phases of the Port’s state-of-the-art regional boat sales and services center in the state’s largest marina.
When fully realized, the Waterfront Place Development is expected to generate 2,075 family-wage jobs. The project’s private development will generate $8.6 million annually in state and local sales taxes; in addition to the temporary construction jobs, sales tax and building permit revenues.
ANTICIPATED PROJECT INVESTMENT: - $33 million in public infrastructure - $340 million in private investment
WHAT'S PLANNED: PUBLIC AMENITIES 15 new public gathering spaces, including: - 4 mile continuous walking/biking trail - 2 large-scale parks - 2 children’s playgrounds - 7 vistas; with 4 elevated viewpoints - 1 outdoor performing arts venue - 1 iconic clocktower - Multiple water features
STORES, SHOPS & RESTAURANTS Restaurants: At least 5 additional eateries along Fisherman’s Harbor, and a fine dining restaurant at the water’s edge Hospitality:2 new waterfront hotels; 180 keys Office & Commercial:447,500 sq. ft. Retail: 63,000 sq. ft. Marine Retail: 20,000 sq. ft.
RESIDENTIAL No less than 350 homes for sale or rent: Apartments, condos, townhomes, and lofts with parking.
MARINA The Port has a multi-year plan to reinvest in the capital needs of marina, which will address the docks, power, gatehouses, gangways and upland amenities. The project also plans for improved facilities for commercial fishermen.
PROJECT DETAILS: Central Property
Developable Area: Approx. 65 acres
Port Infrastructure Costs: Est. $33 million based on concept-level planning
Public/Private Infrastructure Investment: The project generates $310-$368 million in public-private investment at full build out.
Master Developer: The Port of Everett is the master developer, and expects to seek development partnerships starting January 2015 through land sales and leases.
Timing & Development Interest: Portions of the property are ready for development after the entitlements are approved. Construction on the first zone is expected to begin as early as 2016.
Density: The 2005 City/Port Development Agreement allows up to 1.5 million square feet; the Port is not requesting any increase in maximum density or heights.
Housing: 350 to 660 housing units are called for in the strategy; the 2005 City/Port development agreement allows for up to 660 units.
Parking: This development strategy calls for 3,200 stalls of surface and structured parking.
Environmental Cleanup: In partnership with the Department of Ecology, the Port of Everett is reviving and restoring 215 acres of property for economic use. A large portion of these cleanups are in the Waterfront Place, as the site was the epicenter of Everett’s milltown roots. After deliberate policy direction by the Port Commission, the project area is largely cleaned up and primed for development. In 2013, the former Everett Shipyard site underwent an upland cleanup effort. In August 2014, the in-water portion of the cleanup will begin, kicking off the marina revitalization effort in the Central Northeast basin. This project is the last major cleanup effort on this site to make way for Waterfront Place.
Free viewers are required for some of the attached documents. They can be downloaded by clicking on the icons below.