Last week, the Port of Everett announced the selection of LPC West for Phase II of Waterfront Place. The announcement follows a nationwide search for a quality and experienced developer to take on the largest mixed-use phase of Waterfront Place, featuring up to 60,000 square feet (sf) of retail, 200,000 sf of commercial, and 200 multi-family housing units.
LPC West is the West Coast arm of Lincoln Property Company – one of the largest diversified real estate services firms in the United States – with headquarters based in Dallas, Texas. The company represents projects throughout Washington, Oregon, California, and Idaho, and are responsible for a portfolio of more than 33 million sf of commercially developed, managed and/or leased properties.
“LPC West comes with the highest of recommendations and has proven experience in delivering quality mixed-use projects that honor the vision and history of the communities they are developing in,” Port of Everett CEO Lisa Lefeber said. “We are so excited to hit the ground running with our new partners to bring jobs and additional vibrancy to the waterfront.”
The Millwright District represents the second phase of public-private development within the Port’s 65-acre, 1.5 million sf mixed-use Waterfront Place project. It builds on the momentum and more than $150 million in investment in the project to date with the new developments at Fisherman’s Harbor, including the new 266-unit Waterfront Place Apartments, the new 142-room Hotel Indigo, the coming “restaurant row” and destination wine walk, public gathering spaces and more.
“LPC West is incredibly excited to partner with the Port of Everett on the continued revitalization of its exceptional waterfront location,” said J.P. Harlow, Senior Vice President of LPC West. “We again look forward to working with RIOS, a best-in-class architect when it comes to designing a cohesive live/work/play community. The Millwright District will be a vibrant community on the waterfront, and a hub for new residents and businesses.”
As the largest development site, the Millwright District is devoted to establishing a waterfront employment hub, supporting small-to-mid size office users with surrounding destination retail, residential and public spaces. Site elements will be designed in coordination with Waterfront Place engineering firm, PND Engineers.
A long-term ground lease is expected to be reached in early 2022, followed by design, permitting and construction beginning in 2023. The Port is currently building out the first phase of the project at Fisherman’s Harbor restaurant row and destination retail, with some space still available. This Everett-based project represents LPC West’s first commercial project in Snohomish County.