Riverfront Phase 1 To Start With 333 Apartments

The next phase of a more than a decade-long quest to turn the site of a former landfill between I-5 and the Snohomish River in Everett, Washington into housing and an upscale mixed use development is about to happen.

Shelter Holdings plans a six-phase mixed use development with 1,250 multi-family units, a theater, small grocery, possible medical clinic, hotel and office building. Construction is expected to start in March on the first two buildings in phase one of the development.

Buildings A and B will sit on the west side of Riverfront Drive to the north of 41st street near the southern entrance to the development. According to the narrative in the application for a multi-family tax credit the first two mixed use buildings will contain 333 units of one and two bedroom apartments with 62 units designated affordable.

Here’s an excerpt from the narrative:

Included with these 333 residences the plan is to include 10% of the residences to households whose income is at or below 80% of the median income and 10% to households whose income is at or below 115% of the area median income adjusted for household size for Snohomish County in keeping with the MFTE Code referenced above. These residences will be constructed in mixed use buildings and are anticipated to be complete in approximately two years.

At the south end of the property is the Overlook at Riverfront with 3, 4, and 5 bedroom single-family homes ranging from 1,600 to 2,700 square feet, selling in the half-a-million dollar price range. At the north end of the property are The Towns at Riverfront with 2, 3 & 4 bedroom townhomes ranging from 1,163 to 1,960 square feet, selling in the three hundred to four hundred thousand dollar price range. You can see more about the entire development and track the history and progress here on the City’s website.