Everett Mayor Ray Stephanson said this morning (May 8, 2008) that OliverMcMillan has changed its plans for initially developing its Snohomish River project from leading with condominium development to building retail and mixed-use projects first instead.
Addressing the quarterly economic update meeting of the Snohomish County Economic Development Council at the Everett Golf &Country Club, Stephanson said the developer also plans to increase its previously announced commercial segment from 200,000 to 700,000 square feet.
Within a few weeks, he said he expects an announcement for the construction of a 220-room hotel on the site, part of a retail complex that will include the previously announced Cinetopia 16-screen luxury theater. Fill dirt will be layered onto the site this summer. After settling for a year, construction is expected to begin in mid-2009, with stores opening in 2011.
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