The M.S. Cavoad Co.

Specialty: Multifamily waterfront projects
Management: Mark Goldberg, chairman; Chris Raftery, president
Founded: 1985
Headquarters: Seattle
Current projects: The 400, Bremerton


Image courtesy of M.S. Cavoad Co.
Cavoad is developing several multifamily projects in Bremerton, including The 400 condominium project on the waterfront.

Bremerton is just beginning a development upswing and Mark Goldberg, chairman of The M.S. Cavoad Co., is capitalizing on its potential.

“Until two or three years ago, Bremerton was a vacant downtown. Now Bremerton’s being touted as potentially one of the most up and coming towns in America,” he said.

The Bremerton waterfront is one area that Goldberg said should see a lot of growth. Cavoad has a project, The 400, selling there. It also has five other multifamily projects totaling 500 units planned.

The next Kirkland?


‘Until two or three years ago, Bremerton was a vacant downtown. Now Bremerton’s being touted as potentially one of the most up and coming towns in America.’


With a new marina, boardwalk and hotels, the area will be ideal for Seattle commuters that want to live in a walkable urban environment on the waterfront. The problem, Goldberg said, is that the public doesn’t know about Bremerton’s potential yet.

For example, The 400 is only 60 percent sold even though it has what Goldberg called the “most attractive prices in the Puget Sound region hands down” for waterfront property. “If they knew this thing existed we’d be sold out instantly,” he said. “We have a very, very small marketing budget and that’s been our problem. Public awareness doesn’t happen overnight.”

But Goldberg is confident that Bremerton will be on the upswing for at least the next 10 years, and will eventually resemble Kirkland in desirability. He is hoping future projects, public knowledge of Bremerton’s appeal and a more robust market will coincide. “Three years from now it will be a whole different ball game.”

Branching out

Until the market picks up though, Goldberg said his company will focus on acquisitions. “Next year is going to be slow,” he said. “It’s going to be more investment in acquisition as opposed to more construction.”

Though the company will be doing a lot of work in Bremerton, it’s looking at other parts of the state for future acquisitions, including the Tri-Cities, Columbia River Gorge and Lake Chelan.



Copyright ©2007 Seattle Daily Journal and DJC.COM.
Comments? Questions? Contact us.