December 2, 2016

Everett's Waterfront Place Central OKs deal for its first 254 apartments

Image courtesy of the Port of Everett [enlarge]

The 65-acre mixed-use development will have housing, a hotel, restaurants, commercial space and retail.

The Port of Everett has approved a purchase-and-sale agreement with American Classic Homes to build around 254 apartments in Waterfront Place Central.

The Mercer Island-based homebuilder wants to build two buildings with apartment units ranging from 550 to 1,300 square feet. Building heights would be 35-45 feet.

The deal includes ACH acquiring 5.44 acres in the Fisherman's Harbor district for $7 million.

Fisherman's Harbor is the first phase of Waterfront Place Central, a 65-acre mixed-use development that will eventually include 660 housing units, a waterfront hotel, up to 10 restaurants, and 662,000 square feet of commercial, retail and marine sales and services.

“Our vision is for our two Waterfront Place apartment buildings to capture the spirit of the Port of Everett's new Waterfront Place neighborhood by embracing the past, present and future of the waterfront,” said John Shaw, an ACH executive, in a statement.

Port Commissioner Troy McClelland said the project will be first to bring housing to the Everett waterfront, and it will signal to other developers that the port is committed to carrying out its vision for the new neighborhood.

The apartment buildings are expected to begin construction in the third quarter of 2017, with a target date for opening in the second quarter of 2019.

Earlier this fall, the port commission awarded $12 million in public infrastructure contracts to Interwest Construction and Bergerson Construction. Their projects include building a plaza, trail system, new roadways, public landscaping, and marine and stormwater infrastructure. The work is scheduled to finish in late 2017.