Gracorp and SeaLevel Properties Break Ground on Everett Waterfront Place Apartment Buildings; Projects Will Be First Residential Waterfront Construction in Port of Everett's 65-Acre Waterfront Place
Date: Sep 19, 2019Everett, WA — September 16, 2019 — Calgary-based development firm Gracorp (www.gracorp.com) and local multi-family builder SeaLevel Properties (www.sealevelproperties.com) today announced the start of construction of the Everett Waterfront Place Apartments, a new two-building, 247,000+ square foot multi-family apartment project in Everett, Wash.
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 Drive in the Port of Everett’s new 65-acre Waterfront Place Central Redevelopment, 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.”
“We’re incredibly excited to be a part of this historic Waterfront development in Everett,” said SeaLevel Properties Director John Shaw. “Our developments focus on high-quality design and creating projects that will resonate with the community. We believe the market is ready for this type of multifamily project in Everett and pre-leasing interest continues to out-pace our expectations.”
Everett Waterfront Place Apartments: Unique Waterfront Experiences in Two Distinct Buildings Designed to provide an industrial and timber-inspired experience, the North Building will feature 135 units and will be complete by the spring of 2021. Completion of the 131-unit South Building, featuring a marine-inspired experience, will follow in the summer of 2021.
The buildings will include eco-friendly elements such as an efficient hot water system, 100 percent LED lighting and native planting. The project will also maximize the Port’s infrastructure features and pedestrian patterns, with lobbies to activate streets and a lively and attractive public realm.
Since announcing the project in June 2018, pre-leasing interest in the project has been strong. A majority of the limited units that were released in the company’s first “Early Release” event in the fall of 2018 were reserved. The company aims to hold another VIP Apartment Registration Event in 2020.
Waterfront Place Central Development
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.
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 (5) 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 $8.6 million in new tax revenue to state and local governments. Hotel Indigo, a 142-room business and lifestyle waterfront hotel featuring full amenities, a 150-seat restaurant and a 5,000-sq. ft. 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.
“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. I look forward to being there for the ribbon cutting,” added Port Commissioner Bruce Fingarson.
“Gracorp and Sealevel Properties are quality Puget Sound developers and builders. This is their first waterfront project in Snohomish County, and we welcome them. This is a great example of the public and private sector coming together to bring jobs and vitality to the waterfront,” continued Port Commissioner Tom Stiger.
Experienced Project Team
Main project team members include Gracorp (Developer & Capital Partner) and SeaLevel Properties (Developer & Capital Partner), Graham Construction (General Contractor), Tiscareno Associates (Architect), Robin Chell (Interior Designer), Brumbaugh & Associates Landscape Architecture (Landscape Designer) CPH Mining & Civil (Civil Engineer), DCI Engineers (Structural Engineer), and financed through the U.S. Department of Housing and Urban Development (HUD).
For more information about the Everett Waterfront Place Apartments or to join the VIP Registration list, please visit www.WaterfrontPlaceApartments.com.
About Gracorp www.gracorp.com
Gracorp is a subsidiary of the Graham Group, one of Canada’s largest and most respected construction companies. Gracorp is a private market real estate developer with offices in Seattle, Vancouver, Calgary and Toronto. From office, retail, hospitality, industrial and institutional to multi-family residential, Gracorp develops solely and partners with a variety of landowners, developers and investment firms to deliver real estate investment opportunities to the marketplace. The Waterfront Place Apartments will be Gracorp’s fourth development project in the Puget Sound region. A total of over 280 units were delivered between the Anthem, Reverb and Decibel apartments, near Yesler Terrace; and currently Gracorp is redeveloping two sites into future multifamily buildings in the University District at 5253 University Way & 5500 University Way with a focus on students.
About SeaLevel Properties
SeaLevel Properties is a local, family-owned builder, focusing on multi-family development. Taking great pride in its reputation for superior quality, attention to detail, and thoughtful development with community in mind, SeaLevel maintains a collaborative approach on all projects. SeaLevel Properties entered the multi-family development market in early 2016 and has quickly developed a presence in the Puget Sound area with more than 600 units currently under development. Led by local real estate experts John Shaw and Kyle Weeks, SeaLevel Properties officially launched in 2016 and has multiple multi-family projects under development throughout the Puget Sound region. In addition to the Everett Waterfront Place Apartments, projects across the Puget Sound include the five-story, 64-unit, 20,000 sq. ft. U20 Apartments (completed), the five townhome UW 18th project (under construction) and the 14-townhome UW 19th project (under construction) in Seattle’s booming University District; the five-story, 110-unit Vale Apartments located in charming downtown Issaquah; the seven-story (completed); the seven-story 60-unit mixed-use apartment building located in the heart of the Pike/Pike Corridor in Seattle’s Capitol Hill neighborhood (under construction); the 162-unit Avaya Trails garden-style apartments near Seattle in Renton, Wash. and the SAMM Apartments, a 132,000 sq. ft. multi-family building located within the Sammamish Town Center in Sammamish, Wash. (completed). To learn more, visit http://sealevelproperties.com.
About the Port of Everett
The Port of Everett is a special purpose district tasked with economic development. Through operation of international shipping terminals, the largest public marina on the West Coast and real estate development ventures, the Port of Everett supports more than 35,000 jobs in the region and contributes $373 million to state and local taxes.
The Port is also a committed steward of the environment and provides ample waterfront public access. The year 2018 marked the Port of Everett’s centennial year. As the Port reflects on its first 100 years, it’s also making major investments to prepare for the future. The Port is moving forward with key Strategic Capital Initiatives that will shape its next 100 years including modernizing its Seaport facilities to prepare for the next generation of cargo with its $36 million South Terminal Modernization project – the largest maritime construction project on the West Coast today. The Port is also creating a new waterfront community where people can live, work and play with its 65-acre mixed-use Waterfront Place Central Development. Additionally, the Port is investing in its marine infrastructure to support the Marina of the future, and is in final phases of developing its Riverside Business Park into a light industrial manufacturing hub.