EVERETT — The City Council last week unanimously approved changes to the master plan for the Riverfront Development.
Under the revised plan, the site’s owner, Shelter Holdings, will build a phased mixed-use development that is anticipated to include a movie theater and specialty grocer, 1,250 multi-family housing units above ground-floor retail and restaurants, a 250-room hotel, office space, and a 3-acre park.
“This is an exciting project with the potential to bring many new residents, visitors and jobs to our city,” said Mayor Cassie Franklin. “I’m grateful for Shelter’s investment in Everett and I applaud their vision for this unique site.”
“We are pleased to be moving forward with our Everett Riverfront project and look forward to continuing our work with the city to develop this exciting new mixed-use community in Everett,” said Gary Young, co-founder of Shelter Holdings.
The Riverfront district consists of three development parcels: the Simpson site on the south holds single-family detached homes, the Mill site on the north holds townhomes, and the central commercial site is where the mixed-use development will occur. The Simpson and Mill sites were developed by Polygon Northwest.
The commercial site project will be developed in six phases. Construction on phase one is expected to begin this summer.
Phase one includes a grocery store and residences. Phase six has the hotel.
The entire development includes planned public amenities, such as trails, a 3-acre park and significant wetland restoration. Shelter will be responsible for building the park under the new agreement.
The deadline to complete the work is extended to 2024. The city has a say because it still has take-back capabilities on the land if development flounders.
The Riverfront master plan, originally approved in 2009, was intended to transform three former industrial brownfield sites to productive urban uses, improve public access along the river.
