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EVERETT, WA—Calgary-based development firm Gracorp and local multifamily builder SeaLevel Properties have begun construction of the Everett Waterfront Place Apartments, a two-building 247,000-plus-square-foot multifamily project. Featuring 266 studio, one-, two- and three-bedroom homes in two distinct yet connected four-story buildings, the project is located at 1300 and 1400 W. Marine View Dr. in the Port of Everett's new 65-acre Waterfront Place Central redevelopment. Waterfront Place is a collection of districts designed to create a sustainable and unique commercial, recreational and residential community.

"Gracorp is aligned with our parent company Graham Construction to not only build a multifamily site, but truly transform it and take advantage of the rich history and beauty of this area," said Gracorp director Giuseppe Augello. "We are excited to work with the Port of Everett on the Waterfront Place Central redevelopment. Given Everett's and the region's growth, 2,000 marina boat slips next to our project, and until now, lack of housing along the waterfront, the interest in the project is very strong."

Designed to provide an industrial and timber-inspired experience, the north building will feature 135 units and will be complete by spring 2021. Completion of the 131-unit south building featuring a marine-inspired experience will follow in summer 2021.

"Our developments focus on high-quality design and creating projects that will resonate with the community," said John Shaw, SeaLevel Properties director. "We believe the market is ready for this type of multifamily project in Everett and pre-leasing interest continues to out-pace our expectations."

The buildings will include eco-friendly elements such as an efficient hot water system, 100% LED lighting and native planting. The project will also maximize the Port's infrastructure features and pedestrian patterns, and a public realm.

"Market interest and our pre-leasing reservations continue to grow, which confirms our instincts that the Everett community is ready for waterfront living in Everett," Augello tells GlobeSt.com.

A majority of the limited units that were released in fall 2018 in the company's first early release event were reserved. The company aims to hold another VIP apartment registration event in 2020.

The Port is continuing its $85 million public infrastructure investment this year by building additional roadway access, constructing new public spaces to connect with the new Pacific Rim Plaza and splash fountain, and building new marine infrastructure at Fisherman's Harbor, including a new guest dock that doubles as a public dock walk.

"Waterfront Place is an emerging waterfront destination, and will be a tremendous asset to Everett and Snohomish County. This is the next major step in the Port's mixed-use waterfront development," adds Port commissioner Bruce Fingarson.

At full build out, the Waterfront Place Central mixed-use development will include new trails and regional parks together with public gathering spaces, up to 660 housing units, fine and casual dining restaurants, and commercial, retail and marine sales and services. The project includes five districts: Fisherman's Harbor, the Millwright District, the Esplanade District, Wharf's Edge and the Craftsman District. The Craftsman District was completed as part of the Port's development of a boatyard in 2009, and Fisherman's Harbor is the first phase of the mixed-use project to proceed.

The entire project will support more than 2,000 jobs and provide $8.6 million in new tax revenue to state and local governments, GlobeSt.com learns. Hotel Indigo, a 142-room business and lifestyle waterfront hotel featuring full amenities, a 150-seat restaurant and a 5,000-square-foot conference and event space, just opened this month at the development.

"This historic project will bring housing to the Everett waterfront for the first time in its history, and provide an early signal to the community and follow on developers that the Port is committed to implementing its vision of a vibrant destination waterfront," said Port of Everett commissioner Glen Bachman.

Main project team members include Gracorp (developer and capital partner) and SeaLevel Properties (developer and capital partner), Graham Construction (general contractor), Tiscareno Associates (architect), Robin Chell (interior designer), Brumbaugh & Associates Landscape Architecture (landscape designer) CPH Mining & Civil (civil engineer) and DCI Engineers (structural engineer). The project was financed through the US Department of Housing and Urban Development.

"This is a great example of the public and private sector coming together to bring jobs and vitality to the waterfront," continues Port commissioner Tom Stiger.

Instant Insights /

Two-Building Multifamily Ramps Up at Waterfront Place Central

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