Changing the face of Everett’s riverfront

  • By John Wolcott SCBJ Editor
  • Sunday, March 23, 2008 10:47pm

Two major urban redevelopment projects worth a total of nearly $1 billion are under way in Everett, including Port Gardner Wharf on the west side and the Everett Riverfront on the east.

The wharf development is the Port of Everett’s $400 million makeover of the city’s aging industrial waterfront by Chicago-based Maritime Trust Co. It will create a new, upscale neighborhood of retail stores, condominiums and an expanded marine industry devoted to boaters. Construction has begun on the first of the condominiums and new businesses.

Lesser known is the $350 million to $500 million Riverfront project, fronting on the Snohomish River east of Lowell, that is expected to break ground this summer. The city and state have already invested millions of dollars and will invest even more for an extension of the 41st Street overpass and city construction of roads, parks and utilities on the site. A San Diego, Calif., developer, OliverMcMillan Co., expects to invest up to $250 million of its own for constructing the retail and residential center that will create a new city gateway community where I-5 passes through the downtown core.

The developer expects all of the condominiums will be completed by 2009, with the retail center opening by mid- to late-2010. OliverMcMillan officials said they expect the riverfront to rival Lynnwood’s Alderwood mall to the south and the Tulalip Tribes’ Quil Ceda Village to the north as a major Puget Sound attraction.

“The development will create one of the nation’s largest sustainable lifestyle neighborhoods where people can live, gather, shop, ride bikes, hike trails and kayak on the river.” said Everett’s executive director, Lanie McMullin.

The first tenant, Cinetopia, announced in mid-July that it will build a unique, 16-screen movie theater and entertainment complex near the center of the site. Cinetopia promises it will supersede other movie centers by providing a variety of high-end entertainment options in a single facility.

Included will be a Living Room Theater with box seating and a Grand Auditorium, with all theaters offering digital, super-high-definition projectors and deluxe audio equipment. Attractions also will include an art gallery, tropical garden, restaurant and a wine bar with more than 100 different wines and an automated system that informs patrons about the different wines.

“Cinetopia sets the tone for the future development of the riverfront,” said Everett Mayor Ray Stephanson. “Just like this development, Cinetopia is a distinctive, destination-quality attraction.”

“The Everett Riverfront is our perfect location because, like Cinetopia, it will be a one-of-a-kind destination offering the Seattle area a unique shopping, dining and recreational experience,” said Rudyard Coltman, owner and operator of Cinetopia.

Half of the 225-acre Riverfront development will be filled with up to 600,000 square feet of retail businesses, restaurants, a 100-room hotel and more than 1,000 residential units, from single-family homes to condominiums and town homes, according to current plans. The entrance to the site will be at the new 41st Street and I-5 interchange.

The remainder of the site will be preserved for wetlands, wildlife habitats, riverfront walks and a two-mile-long multi-use trail with views of the river, Mount Baker, Mount Rainier and the Cascades.

Tenants for the site will include three major retail anchors, Cinetopia, a bookstore and a sports business plus a variety of restaurants, all close to the residential units sited along the river. More than half of the store brands are expected to be new to Snohomish County.

A 1.5-acre outdoor gathering place will be created near the river, featuring a public dock overlooking the river.

Spurred by the city of Everett, the riverfront venture is the first new commercial development on the site since the Simpson Lee paper mill operated there for decades before it closed in 1972. After the site was reclaimed for development in recent years, the City Council selected OliverMcMillan to develop it and sold the property to the firm earlier this year for $8 million.

Since 1992, the city, state and federal governments have invested $48 million in preparing the site, including $22 million for acquiring the property and the state-mandated cleanup. The other $26 million has been spent on infrastructure for the site, including the new 41st Street overcrossing at I-5. Everett officials estimate a further investment of $30 million to $40 million will be made to finish developing the site, building city parks and extending 41st Street into the site.

OliverMcMillan also will be investing heavily, up to $250 million, for its development of the riverfront community. Over a number of years, the city expects to recoup its investment through revenue from increased sales, property and other taxes.

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