How a new Everett mayor could affect local real estate scene

Tom Hoban

Tom Hoban

Everett Mayor Ray Stephanson’s about-face earlier this year on running for what would be a fourth term came as a bit of a surprise to locals.

In The Herald’s coverage, he cited family reasons for the reverse course. A few days later, two candidates jumped into the suddenly open race. Now, four people are running for the position.* Everett’s commercial real estate market has yearned for a citywide vision that might serve an even broader purpose to unite the rather fragmented business community and clarify what Everett wants to be.

With a clear vision, real estate owners, managers and developers can deliver inventory to fit that plan.

While most cities re-wrote their vision plans after the Great Recession, Everett did not and it has struggled at times to compete for opportunities with cities that have.

An effort to create one is under way now, but with a change in the mayor’s seat ahead it will likely need to be replaced by a new one. Everett is poised, too. Funko, a toys and collectible company, bought the iconic former Bon Marche Building — most recently home to Trinity Lutheran College — in downtown Everett and brought with it dozens of tech jobs in the city core.

The transformation of Everett’s North Broadway neighborhood into a mini-college town with student housing and the new Washington State University campus is meaningful.

New housing along the Snohomish River where decades ago Everett made the news for the famed tire fire is another good sign. (It will be more exciting if promised retail in the Riverfront area opens as promised.)

Two new hotels opened in downtown Everett and the Port of Everett has selected a developer and begun building its long anticipated retail, office and apartment project on the marina.

Most exciting, though, is the announcement that a two-gate terminal providing convenient airline commercial passenger service in and out of Everett will open in 2018.

Airports create jobs that have nothing to do with aerospace and everything to do with facilitating trade and commerce. Of the things that could be baked into a new vision, commercial passenger service is the game-changer.

Whomever the new mayor might be, a new vision to leverage the momentum in place now should be job No. 1. The power of the private sector to build on that foundation has really never been seen in Everett in a generation.

With a robust new vision plan, it can be finally realized.

Tom Hoban is CEO of The Coast Group of Companies. Contact him at 425-339-3638 or tomhoban@coastmgt.com or visit www.coastmgt.com. Twitter: @Tom_P_Hoban.

* This story has been modified to reflect the fact there are four people running for mayor of Everett.

Talk to us

More in Herald Business Journal

County lost 100 aerospace manufacturing jobs in June

At 6.1%, Snohomish County has the sixth-highest unemployment rate in Washington.

The growing business district along 172nd Street NE in Arlington, looking west toward I-5. At lower left is the construction site of the new Amazon fulfillment center. (Chuck Taylor / The Herald)
Marysville-Arlington road improvements won’t happen at once

Traffic improvement projects near the Cascade Industrial Center will take shape over the next decade.

A line of Southwest Air Boeing 737 jets are parked near the company's production plant while being stored at Paine Field Friday, April 23, 2021, in Everett, Wash. Boeing reported its first quarterly profit since 2019 and revenue topped expectations, as the giant aircraft maker tries to dig out from the most difficult stretch in its history. Boeing said Wednesday, July 28, 2021, that it earned $567 million in the second quarter, compared with a $2.4 billion loss a year ago. (AP Photo/Elaine Thompson)
Boeing, for first time since 2019, has a profitable quarter

The earnings hint at a potential turnaround after one of the worst financial crises in the company’s history.

FILE - In this June 18, 2015, file photo, an Airbus A380 takes off for its demonstration flight at the Paris Air Show in Le Bourget airport, north of Paris. European planemaker Airbus reports that it made 1.87 billion euros profit in the second quarter. That's a relief after a loss in the same quarter a year ago during the depths of the pandemic shutdowns and travel restrictions. (AP Photo/Francois Mori, File)
Airbus, Boeing rivalry is back on as sales campaigns pick up

The improving outlook comes amid a travel reopening that’s gathering pace in some key markets.

Festive seafood specialties, modern delicacies with a beautiful presentation on the plate. Delicious dish - tender fish meat, with greens, lemon and vegetables. Cartoon vector.
You voted: The best seafood in Snohomish County

Even during a pandemic, people have their favorites

File - In this Sept. 24, 2014 file photo, smoke hangs over Reno-Tahoe International Airport as a plane takes off in Reno, Nev. A shortage of jet fuel, coupled with supply chain issues and an urgent demand from firefighting aircraft, continues to cause problems at airports around the West. In Nevada, state and federal lawmakers said they are investigating a possible shortage of jet fuel that could delay cargo delivery and passenger travel at Reno-Tahoe International Airport in the coming days. (AP Photo/Martha Irvine, File)
Airports in the US West dealing with shortage of jet fuel

Supply chain issues and an urgent demand from firefighting aircraft have combined to cause problems.

sandwich with ham, tomatoes, lettuce and toast isolated on white background, healthy breakfast, lunch
You voted: The best darn sandwich in Snohomish County

Even during a pandemic, people have their favorites

FILE - In this Aug. 26, 2019, file photo, Washington Attorney General Bob Ferguson speaks at a news conference in Seattle. Washington state sued Johnson & Johnson on Thursday, Jan. 2, 2020, claiming the company was negligent when it used deceptive marketing to say the drugs were effective for treating pain and were unlikely to cause addiction. The lawsuit filed Thursday says the company that supplies raw materials used to make opiates drove the pharmaceutical industry to recklessly expand the production of the drugs. (AP Photo/Ted S. Warren, File)
Washington AG rejects opioids settlement, wants trial

The proposal would pay Washington about $527.5 million over 18 years if cities and counties opt in.

This photo provided by Blue Origin,   Jeff Bezos, founder of Amazon and space tourism company Blue Origin, exits the  Blue Origin's New Shepard capsule after it parachuted safely down to the launch area with passengers Mark Bezos, Oliver Daemen and Wally Funk, near Van Horn, Texas, Tuesday, July 20, 2021.  (Blue Origin via AP)
Blue Origin’s Bezos reaches space on 1st passenger flight

The Amazon founder is the second billionaire in just over a week to ride his own spacecraft.

The first flight for United Airlines servicing Paine Field taxis to the gate on March 31, 2019. (Kevin Clark / Herald file)
Come October, United Airlines will discontinue flights at Paine Field

The airline is one of two commercial carriers at the Everett airport. United flies to Denver.

Community leaders and officials break ground at the Port of Everett's Norton Terminal at the former Kimberly-Clark mill site along the waterfront Thursday morning in Everett on July 15, 2021. (Kevin Clark / The Herald)
Legacy of pollution makes Everett port project ‘challenging’

The former Kimberly-Clark mill site is nearing the end of a complex cleanup, part of a $36 million terminal project.

FILE - In this Oct. 28, 2020 file photo, a motorcyclist cruises past the Renton, Wash., Boeing plant where 737's are built. Boeing is temporarily lowering its delivery target for the 787 Dreamliner after discovering additional work that will need to be performed on the aircraft. The company said Tuesday, July 13, 2021, that the 787 production rate will temporarily be lower than five per month and will gradually return to that rate. (Ellen M. Banner/The Seattle Times via AP, File)
Boeing cuts production on the 787 to address a new flaw

The problem is on the forward pressure bulkhead, which keeps the plane’s interior pressurized.