EVERETT — A Seattle developer has agreed to a long-term lease with the Port of Everett to bring a mix of restaurants and retail shops to the city’s waterfront.
Waterfront Place Retail, which is associated with The Schuster Group in Seattle, will develop the businesses on several parcels in the Fisherman’s Harbor District, the first part of a planned makeover of Everett’s central waterfront area.
“We’re excited about it,” said Holly Gardner, president of The Schuster Group. “We think there’s been a lot of positive momentum in Everett.”
This is the third developer to commit to building pieces of the Fisherman’s Harbor District. Last year, Mercer Island developer American Classic Homes signed up to build 254 apartments in the district. This summer, Seattle’s Columbia Hospitality agreed to build a 142-room Hotel Indigo in the district.
All three developers are familiar with each other and plan to open the properties by late 2019, Gardner said. Her group was attracted to what the Port of Everett has envisioned for the area.
“We just think the master planned community is well done and the port has invested a lot into it,” she said.
She didn’t know what mix of businesses would go into her development, but she said that it would include a “complementary mix of Northwest restaurateurs and retailers.” She said it will be a diverse set of options for residents and guests to enjoy.
She said there’s already been tenant interest in the site. The exact size of the shops and restaurants hasn’t been determined.
The deal with the port requires The Schuster Group to pay a $50,000 deposit and then pay a lease of up to $500,000 a year as the businesses open, said Lisa Lefeber, the port’s spokeswoman. The lease is for 50 years, with an optional extension of 30 years.
This is part of a larger vision to rebuild 65 acres along the waterfront and bring a mix of homes and businesses to the area. The Fisherman’s Harbor District is first phase.
The district is on 12 acres on the water side of West Marine View Drive. Also planned are a continuous public trail, a dock walk for people to get to the water and a Pacific Rim Plaza, including several water fountains.
Interwest Construction and Bergerson Construction are building new roadways — Seiner Drive and 14th Street — as well as the trail and the plaza. The firms were paid $12 million for the infrastructure work.
The Schuster Group is expected to begin actively marketing the development.
People interested in locating a business at the site are asked to contact Gardner at 206-529-3914 or hgardner@theschustergroup.com.
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