Everett Econo Lodge Being Converted into Apartments

Econo Lodge near Silver Lake will convert into apartments.

Sage recently purchased the Everett Econo Lodge near Silver Lake at 9602 19th St, Everett, WA for $9.5 million to convert it from a hotel into 124 studio apartments.

The project will transform the long-standing 39,658 sq ft motel into permanent studio apartment homes for individuals and families, helping meet Everett’s critical housing needs.

Construction is set to begin in November, with Phase 1 leasing expected to begin in August 2026.

Econo Lodge at 9602 19th Ave SE.

This project is the newest part of Sage’s work to provide attainable rental housing for the “Missing Middle,” or moderate-income individuals who need housing near jobs and transit but do not qualify for subsidized housing.

Units are expected to lease at market rates, with pricing available closer to the 2026 opening. This is the latest acquisition to follow others this year in Fife, Mountlake Terrace, and most recently, Kirkland.

Each Sage property typically includes indoor meeting spaces, on-site laundry, a variety of tenant-friendly amenities, and on-site property management. Renovations for this property will include a new lounge space and gym.

Apartment units will be equipped with a full bathroom and kitchen. Sage budgeted $7 million for the upgrades.

The improvements will feature all-new interiors, including kitchens in every unit, and improved community spaces such as a lounge and game area, gardens, secure parking, and overall infrastructure improvements.

By reimagining this underutilized asset, Sage sees itself as not only preserving affordability but also revitalizing the neighborhood, enhancing livability, and strengthening the Everett community for years to come.

Here are renderings courtesy of Sage Investment Group:

Statement provided to us from Sage:

“Sage’s acquisition of the former Everett Econo Lodge represents more than just a real estate investment: it’s a commitment to the community.

By transforming this property into vibrant, high-quality, naturally occurring affordable housing, we’re preserving affordability while elevating livability in the area.

Families and individuals in Everett deserve this kind of housing option, and we’re proud to contribute to the city’s future by providing housing that so needed in the area.”