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Port of Everett Opens First Phase of Waterfront Redevelopment

The Port of Everett has landed an anchor tenant -- Bayside Marine -- for its new "Craftsman District" on the Everett waterfront.

The $13 million Craftsman project is intended to revitalize the industrial waterfront with businesses that provide goods and services to boaters who use the 2,300-slip Everett marina, which is one of the two largest on the West Coast.

In time the district will also contain 660 condominiums, 18 acres of parks and a mix of commercial and retail businesses on the north side of the marina. The project was delayed last year, when Wall Street financiers backed out during the early stages of the national credit crisis. The port and its development partner, Chicago-based Maritime Trust, have been negotiating new financing.

In addition, 100 acres along the Snohomish River have been sold to OliverMcMillan, a San Diego-based developer, which will turn the land into a mixed-use project with 500,000-800,000 square feet of retail space and 800-1,000 residential units or hotel rooms. A three-acre city park and other amenities should enhance the site's appeal to residents. The property is located between Interstate 5 and the river, and nearly 100 acres will remain natural or enhanced wetlands with trails and other features.

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