Friday, September 21, 2018

Port of Everett to Sell Waterfront Site

By Karen Robes Meeks

The Port of Everett Commission has agreed to sell a 13 acre-property on the Snohomish River in north Everett to Latitude Development, LLC.

The agreement includes a series of conditions that could delay the closing date by more than a year. To close the sale, the purchaser must first secure a high-quality tenant who will provide at least 10 jobs per acre.

As part of the agreement, the port will include land segregation (reserving the shoreline portions for the port), fix FEMA flood plain maps that incorrectly show portions of the site underwater, and seek a shoreline permit on the site’s master plan in conjunction with Latitude.

“Latitude Development, LLC appreciates the ports acceptance [of] our offer to purchase the Bay Wood Site,” Latitude Development Principal Dave Kessler said. “We are very excited for the opportunity to partner again with the port to bring jobs and businesses to the Everett Community.”

Port of Everett Acting CEO Lisa Lefeber praised the company.“Latitude has been a wonderful partner at the Riverside Business Park and has delivered on its commitment to the Port to create light-industrial, family wage jobs to support our community.”

“Bay Wood was the first property, along with Jetty Island, that the port bought when it was established as a Port District in 1918, so it is bitter-sweet that we are selling it during our Centennial year,” she added. “But the port’s priority is to transform underutilized, contaminated sites back into job creation centers and tax generators, and this sale will do just that.”