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Feature Article, May 2006
Oliver McMillan To Develop Along Snohomish Riverfront
Everett Riverfront project will bring up to 1 million square feet of retail to Snohomish County, Washington.
Randall Shearin
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Oliver McMillan is developing a mixed-use project along 225 acres of the Snohomish River in Everett, Washington. The project will contain up to 1 million square feet of retail.
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When 225 acres became available for development along the Snohomish River in the city of Everett, Washington, San Diego-based Oliver McMillan jumped at the chance to participate. After being selected in May 2005 by the city after an RFP process, Oliver McMillan has been hammering out the details of the deal with the city. Of the 225 acres, about 110 will be developed into a large mixed-use project, with retail at the heart. The remainder will be used for wetlands, parks and trails.
Oliver McMillan has plans for up to 1 million square feet of retail at the project, which is currently named Everett Riverfront. There are also plans for 1,000 units of housing in three different zones and a 100-room hotel. Oliver McMillan will develop the multifamily component, as well as the retail, but may bring in a partner for any single-family homes developed on the site.
The center will be regional in nature, though it will be open-air. Oliver McMillan is in negotiations with three different anchors to locate at the center.
“We are positioning [this] as an open-air main street lifestyle center along the river,” says Kevin Haley, development director of Oliver McMillan.
The site of Everett Riverfront sits between Interstate 5 and the Snohomish River. The site is a former mill site, and the 50 acres where the retail component will one day sit used to house a landfill. All environment remediation will be done on the site before anything is built. Taking that one step further, Oliver McMillan is going for LEED certification for the project. Gensler, who is serving as the retail architect, is approaching the project as if it will be LEED certified. The developers expect that they will receive a Gold LEED certification for the project.
“We’re taking a site that was not accessible by car and making it one of the most popular areas to go,” says Haley. “We’re also reclaiming a riverfront and making that an attraction to the population. It’s going to be a vibrant, eco-friendly environment.”
Trails will connect the retail with the residential. Points of interest along the trails will point out salmon in the river and birdwatching posts, among other things. A public boathouse/rowing club will also be built by the developer.
Oliver McMillan will finalize its deal with the city of Everett at the end of May. It will then begin the approval process, which it expects to complete by April 2007. The center will then begin construction, with a mid- to late 2008 opening anticipated. The retail component will be built first, with the residential added in increments over the following years through 2010.
The city of Everett, located 25 miles north of Seattle, is one of the fastest growing areas in the state of Washington. The average household income in the trade area is $72,557.
©2006 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.
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