EVERETT — As the first residents began to move into the 178-unit Library Place apartments next to the Everett Public Library, developer Skotdal Real Estate said Friday it had bought the neighboring Everett Elks building out of foreclosure.
The building includes nine unfinished condominiums and about 8,500 square feet of space now occupied by the Everett Elks Lodge. Last year, ownership of the property reverted to the building’s lender after the Elks stopped making payments and a court-appointed receiver was told to sell it. When it became clear the building would be sold, Skotdal Real Estate decided to act.
“We wanted to complete the vision that the Everett Elks originally established for the property, which was to contribute something positive to the urban landscape and continue raising the bar for downtown living,” Craig Skotdal, president of the company, said in a news release.
The sale closed Friday, he said.
The Everett Elks sold their original building at Rucker Avenue and California Street to Skotdal Real Estate in 2007, where the first 22 units of Library Place now stand. The Elks used the proceeds to build the lodge at the corner of Hoyt Avenue and California Street. But by the time the new Elks building was complete in 2008, the real estate market had collapsed in the recession and the condos never sold.
Skotdal said work began as soon as the sale closed to make cosmetic repairs and prepare the nine residential units as apartments. He expects the work to take 30 to 60 days. The company also intends to upgrade the building’s landscaping and make cosmetic enhancements to the exterior.
“The Elks have done great things for the Everett community and we’d like to find a way to keep them in the building,” Skotdal said.
He said discussions with the Elks are just beginning and no immediate changes are planned for their occupancy and use of the property.
Meanwhile, across the street, finishing touches are being put on Library Place, where an open central courtyard joins the first and second phases. Over the next few weeks, workers will add signs, artwork and displays that will highlight the project’s literary identity. An eight-foot stack of books near the building’s main entrance on Hoyt Avenue will be one of the last pieces of the project to fall into place. “The Book Stack” is being fabricated by Dillon Works of Mukilteo.
Prior to opening, about 10 percent of apartment homes in the second phase were leased before completion. Seventy-four units on the top two floors of the five-story building are ready for occupancy, building manager Kendra Shedd said. Skotdal said 22 units are occupied.
Shedd has been reaching out to nearby employers to promote the convenience of urban living for their employees. Having served aboard the USS Momsen, a destroyer home-ported in Everett, Shedd thinks sailors arriving with the USS Nimitz would like living at Library Place.
“For Navy personnel, we’re just a five-minute commute from the waterfront, plus we have all the advantages of nearby restaurants, shops and downtown attractions like Comcast Arena,” she said.
Shedd plans to get Library Place residents involved in a book club and host movie nights in the amenity room that will feature films based on popular books. She thinks residents will be drawn to the Everett Public Library, attending author events, downloading e-books and checking out some of its 10,000 available movies.
“As a family and as a company, we’re committed to bringing people back to Downtown Everett and creating a vibrant urban neighborhood,” Skotdal said. “On a personal level, it feels good to keep our construction team employed and focused on another positive project that can make a difference for our hometown.”
Kurt Batdorf: 425-339-3102, email@example.com.
Live at Library Place
Prospective tenants can go to www.Library-Place.com to view floor plans, pricing and photos of the apartments or call 425-252-6600 or email Live@Library-Place.com for rental information.
The Library Place leasing office is open from 9 a.m. to 6 p.m. daily at 2720 Hoyt Ave. Tours are available by appointment or by visiting the leasing office. The public will be able to see the project at an open house this summer.