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Puget Sound developer joins Everett's more than $550 million waterfront project

Everett's Waterfront Place is expected to be complete in five years, according to the port's CEO.

Editor's note: The above video on Everett's plans for its Waterfront Place project originally aired Feb. 19, 2020.

EVERETT, Wash. - The Port of Everett has struck another deal in its plans to completely redevelop the city’s waterfront.

The Schuster Group is buying into the port’s more than $550 million idea, dubbed Waterfront Place, to bring 1.5 million square feet of housing, office and commercial space to the city’s far west side.

The Puget Sound developer is leasing a total of eight spaces from the port, including the two Port Gardner Landing buildings, which will begin development this year.

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Half of the sites in the agreement will make up the port’s envisioned restaurant row at Fisherman’s Harbor and wine walk.

“We’ve been closely following the Port’s plans for Waterfront Place, and we believe they have turned this location into the premier north end destination,” said Schuster Group President Holly Gardner.

Plans for Waterfront Place include two hotels, more than 80,000 square feet of retail and restaurant space and hundreds of housing units.

In May 2021, the city opened its first-ever waterfront apartment building, an occasion port CEO Lisa Lefeber called “momentous” after a fire threatened the project and the pandemic disrupted the development plans.

Lefeber said in a statement Tuesday that Waterfront Place is projected to be complete by 2027 with the completion of at least one building per year.

“The level of interest we are seeing to bring these new commercial spaces online is extremely encouraging and a testament to the quality project we have established here at the waterfront,” Lefeber said in a release.