Land Lease To Bring More Restaurant And Retail To Port Of Everett

Plans continue to develop for Waterfront Place at the Port of Everett. Today the Port revealed a land lease with Seattle based Schuster Group that should bring retail and restaurants to the growing Port project. Here are the details…

On October 24^th, the Port Commission authorized the CEO to sign a long-term lease with Waterfront Place Retail, LLC, an entity associated with The Schuster Group, to build restaurants and retail in Fisherman’s Harbor at Waterfront Place.

The long-term ground lease includes five parcels tucked between Seiner Drive and the Esplanade, two parcels at the entry of Waterfront Place, and the Port Gardner Landing parcel (the previous location of the historic Weyerhaeuser Building). The Schuster Group long-term land lease will bring millions of dollars a year in new business to the local economy. (The red parcels indicate the areas of interest to The Schuster Group)

The Schuster Group is a nationally recognized and award-winning developer. Over the years, the company has earned recognition for their work in restaurant, retail, multi-family and mixed-use developments. Some recent well-known mixed-use projects they have worked on include Mosler Lofts, Joseph Arnolds Lofts, and Muriel’s Landing.

“We’re very excited to be a part of this landmark project for the Port of Everett,” President of The Schuster Group Holly Gardner said. “The Waterfront Place project fits within our focus on emerging markets and our wheelhouse of expertise. Perhaps most importantly, it aligns with our mission of creating distinctive, sustainable projects of enduring value.”

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 in North Everett. This district will be a year-round hub of activity that includes approximately 266 apartment homes, a 142-room hotel with meeting and event space including a ball room, and nine retail and waterfront restaurant spaces. The key public features of this area include: a continuous waterside public trail known as the Esplanade, the Dock Walk allowing visitors direct access to the water, Seiner Wharf displaying commercial fishing vessels along an old fashioned reinforced wooden wharf, and, the jewel of the district, Pacific Rim Plaza – a storytelling tribute to our international seaport mission featuring an elaborate splash fountain.

The project schedule for the parcels in Fisherman’s Harbor is set to align with the residential development and the hotel development, with an anticipated delivery and opening date in mid-to-late 2019. With the approval of the ground lease, The Schuster Group will begin actively marketing the development and seeking high-quality local tenants for the restaurant and retail spaces. The Schuster Group and the Port envision a diverse and complimentary mix of northwest restaurateurs and retailers that will meet an unmet demand in Everett for a vibrant and active retail center. Interested parties should contact Holly Gardner at 206-529-3914 or hgardner@theschustergroup.com.