Everett, Washington, Dec. 01, 2016 (GLOBE NEWSWIRE) -- In November, the Port of Everett Commission authorized the CEO to sign a Purchase and Sale Agreement with American Classic Homes (ACH) to build approximately 254 multifamily housing units in the new Fisherman’s Harbor District in Waterfront Place.
The deal includes ACH acquiring 5.44 acres in Fisherman’s Harbor for the negotiated sales price of $7 million to construct two residential buildings. According to the ACH proposal, the apartment units will range in size from 550 square feet to 1,300 square feet, and the buildings will be consistent with the approved heights for the district (35-45 feet).
“The American Classic Homes team provided a vision for the Fisherman’s Harbor residential that was creative, high-quality, and consistent with the overall historical theme of the Waterfront Place Central development,” said Terrie Battuello, Chief of Business Development for the Port of Everett. “The project is led by a strong housing team with demonstrated experience delivering successful projects on-time.”
“Our vision is for our two Waterfront Place Apartment buildings to capture the spirit of the Port of Everett’s new Waterfront Place neighborhood by embracing the past, present and future of the waterfront,” said John Shaw, Director of Multi-family Acquisitions at American Classic Homes. “Our design approach will reflect Everett’s past waterfront industries while looking to the future of this new, exciting mixed-use neighborhood.”
ACH’s buildings will reflect two distinct design directions. The first building will celebrate Everett’s waterfront’s history of timber and the second building will embrace the maritime and water stories of the location and community of Waterfront Place. The design is well-oriented to maximize the Port’s infrastructure features and pedestrian patterns, with lobbies to activate streets and a lively and attractive public realm.
Port Commission Reaction:
“This historic transaction 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.” – Port Commissioner Troy McClelland
“American Classic Homes is a quality Puget Sound developer/builder. This is their first major 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.”
– Port Commissioner Tom Stiger
"Waterfront Place will be another living and gathering asset to Everett and Snohomish County. For those who will live there, it will be the highlight of their lives." – Port Commissioner Glen Bachman
Construction Status
This fall, the Port Commission awarded $12 million in public infrastructure contracts to Interwest Construction and Bergerson Construction to build the new Seiner Drive and 14th Street roadways, the Esplanade trail system in Fisherman’s Harbor, the Pacific Rim Plaza, new bulkhead, overwater platform, provide landscaping for all the public spaces and install a new pipeline in the City of Everett’s Puget Sound stormwater infrastructure within the site. This work is underway and is scheduled to be complete in late 2017. Vertical construction for the housing units are expected to begin in the third quarter of 2017, with a target date for opening in the second quarter of 2019.
The construction activity in Fisherman’s Harbor will support 1,000 temporary construction jobs annually, 335 direct jobs, $7.6 million in annual payroll, and generate approximately $1 million in state and local taxes.
Fisherman’s Harbor, the first phase of the 65-acre Waterfront Place Central mixed use development, is located on 12 acres adjacent to West Marine View Drive. This district will be a year-round hub of activity that includes approximately 254 apartment homes, a 140 room hotel, five commercial buildings and numerous retail and waterfront restaurant spaces. The key public features of this area include: a continuous public trail, a dock walk for visitors to get down to touch the water and Pacific Rim Plaza, with a splash feature, that will pay tribute to our international seaport.
For a video news release and more details about Waterfront Place Central visit www.waterfront-place.com .
For more information, contact Lisa Lefeber, Chief of Policy and Communication, at lisam@portofeverett.com or by phone at 425.388.0617.
About the Waterfront Place Project
The Waterfront Place Central project will create a new community where people can live, work, shop, relax and find entertainment. Overall, it includes 15 new public gathering spaces, up to 660 housing units, waterfront hotel, up to 10 fine and casual dining restaurants, and 662,000 sq. ft. of commercial, retail and marine sales and services. At full build out, the project will generate approximately $500 million in private investment and support more than 2,000 direct, indirect and induced jobs and $8.6 million in new tax revenue for the city.
About American Classic Homes. Based in Mercer Island, Washington, American Classic Homes is a local, family-owned and award-winning new home builder, with communities across the greater Seattle area including Green Lake, Queen Anne, Kirkland, Renton, Sammamish, Bellevue and now Issaquah. American Classic Homes builds elegant, distinctive, and uniquely Pacific Northwest communities with company partners who are directly involved in every step of the home building process, ensuring satisfaction and adding to the personalized and award-winning customer service experience. www.americanclassichomes.com
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Lisa Lefeber, Chief of Policy and Communication, 425.388.0617 lisam@portofeverett.com
