Construction continues Tuesday at the former Kmart site in Everett, where more than 400 apartments will be built. (Kevin Clark / The Herald)

Construction continues Tuesday at the former Kmart site in Everett, where more than 400 apartments will be built. (Kevin Clark / The Herald)

Coming soon to Everett, 430 apartments at former Kmart site

DevCo, Inc. is building six-story apartments “for the workforce” on Evergreen Way, near Boeing Freeway.

EVERETT — More than 400 apartments are replacing a former Kmart on Evergreen Way. The new complex, slated for completion in 2023, is income-restricted and meant for workers earning about half of the area’s average wage.

“It’s a great opportunity to take a vacant, big-box store and convert it into a better use,” said DevCo, Inc. President David Ratliff, who runs the Bellevue-based real estate investment company building the complex.

Heartland Construction began building the 430-unit complex last month at 8102 Evergreen Way in Everett, near Highway 526 aka Boeing Freeway. The incoming complex, called Four Corners Apartments, is near Cascade High School and Evergreen Middle School. The first tenants can begin moving into the apartments in 18 months, Ratliff said.

The Four Corners Apartments will include five apartment buildings with six stories, a community garden, play areas, a dog run and a pool. One of the buildings is 73 feet tall, but the rest are just under 70 feet. Apartments range from one to five bedrooms. Everett’s economic development director, Dan Eernissee, said he expects the new apartments to have more families than a typical complex.

“It’s going to attract a lot more families who are going to have school-aged children,” Eernissee said. “We coordinated a meeting with the school district to talk about those impacts.”

The old Kmart on Evergreen Way. (Lizz Giordano / Herald file)

The old Kmart on Evergreen Way. (Lizz Giordano / Herald file)

The apartments are income-restricted and only available for people who earn less than 80% of the area median income in Snohomish County. Ratliff said the apartments are available on a “first come, first served” basis for qualified tenants, but the entire complex must average 60% of the area’s median income.

The income limits, calculated by the U.S. Department of Housing and Urban Development, vary by the size of a family. For example, a single renter who earns less than $63,350 in Snohomish County meets the income restrictions for the new complex. The income limit for a four-person household is $90,500.

“DevCo builds an affordable product, but it’s really for the workforce,” Eernissee said.

DevCo, Inc. purchased the property for $18 million in 2020. Ratliff said the city has already issued all of the civil and building permits for the project. Demolition of the old Kmart building began in early summer and construction on the apartments began in August.

DevCo may build another apartment complex on the roughly 10-acre property, Ratliff said, but those plans are contingent on Sound Transit developing a light rail station in the immediate vicinity. DevCo’s plan for a second phase, if there is one, are about 15 years down the line. The second complex would cover the southern part of the property, replacing a parking lot and an existing dialysis center.

In the meantime, Eernissee said, the new complex is still in a convenient location for people who use public transportation or walk.

“This has great transit service, with the Swift Line as well as local bus lines,” Eernissee said. “It has lots of jobs in the area, you can walk to schools and you can walk to grocery stores and shopping. It’s just got tons of amenities.”

Katie Hayes: katie.hayes@heraldnet.com; Twitter: @misskatiehayes.

Katie Hayes is a Report for America corps member and writes about issues that affect the working class for The Daily Herald.

Talk to us

More in Local News

Top (L-R): Kim Daughtry, Steve Ewing. Bottom (L-R): Gary Petershagen, Marcus Tageant.
Developers court Lake Stevens council incumbents with over $20K

Over half of the campaign dollars for four candidates came from people tied to real estate or property development.

Voting thing
Decision time: Ballots on their way to a half-million voters

Races for mayor, city councils and school boards are focal point of the Nov. 2 election in Snohomish County.

Police investigating Mill Creek collision where man died

A stretch of 35th Ave SE was expected to be closed for a few hours Friday night.

No injuries, one arrested in Silver Lake drive-by shooting

An Everett woman, 35, was booked into jail for investigation of first-degree assault.

People look through a box of vegetables at the Lake Stevens Community Food Bank on Aug. 30, 2018 in Lake Stevens, Wa. (Olivia Vanni / The Herald)
Big push lands Lake Stevens Food Bank a slice of federal aid

When the County Council OK’d use of $56.6 million, it made a change, steering $600,000 to the nonprofit.

Everett woman who died in crash south of Everett identified

Tigist Abay, 50, was on her way to work Oct. 5 when she was injured near 128th Street.

Police say a woman had a concealed handgun in her possession as she was being booked on a DUI charge at the Snohomish County Jail on Wednesday. (Snohomish County Sheriff's Office)
Police: Woman had gun in her abdomen when booked into jail

The loaded Colt .25-caliber semiautomatic handgun was found in the folds of her flesh at the Snohomish County Jail.

Firefighters contained a fire to a storage area inside Cabela's around 5am this morning. Smoke spread throughout building, putting preliminary damage estimate at about $500,000. We're glad no one is hurt. Sno County Fire Marshal's Office is investigating cause. (Marysville Fire District)
Fire causes $500K damage at Tulalip Cabela’s

The outdoor supplies store closed after heavy smoke damaged merchandise and more in the building.

Everett, Smokey Point rest areas closed for 2021

WSDOT announced the closures were due to ongoing maintenance, staffing and vandalism problems.

Most Read