An artist’s rendering of the planned Waterfront Place development in Everett. (SeaLevel Properties)

An artist’s rendering of the planned Waterfront Place development in Everett. (SeaLevel Properties)

Port, developer finalize terms for 266 waterfront apartments

SeaLevel Properties will buy 5.44 acres for $7 million. The project should be completed in 2020.

EVERETT — SeaLevel Properties said Monday it’s finalized a $7 million deal to buy 5.44 acres of the Port of Everett’s 65-acre Waterfront Place Central development, where the company will build two four-story buildings with 266 apartments. SeaLevel is the multi-family division of American Classic Homes based in Mercer Island.

“This is a historic transaction for the Port of Everett,” said the port’s acting chief executive, Lisa Lefeber. “This property sale allows housing on the waterfront for the first time in Everett’s history.”

Lefeber said the new housing should attract more people and more businesses.

The apartment project at 1300 W. Marine View Drive is to include a mix of studio, one-bedroom and two-bedroom units ranging from 750 square feet to 1,400 square feet. The area in the Fisherman’s Harbor District is the part of Waterfront Place closest to West View Marine Drive.

SeaLevel Properties and the port agreed in principal to the deal in 2016. Construction is expected to begin this fall and is slated for completion in 2020.

“We’re thrilled to acquire this prime development site within Everett’s Waterfront Place redevelopment,” said John Shaw, SeaLevel Properties director.

The two buildings will be “distinct but connected” and reflect three waterfront scapes, according to a news release — “a marine-water inspired experience, an industrial-inspired experience and a timber-inspired experience.”

When fully built out, the port’s Waterfront Place Central, a mixed-use development, is to include trails and parks; retail, restaurant and commercial space; and up to 660 housing units.

Janice Podsada: jpodsada@heraldnet.com; 425-339-3097.

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.

About 4,000 Snohomish County tenants approved for rent help

While some eviction restrictions have eased, it’s unclear what the effect will be here.

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.