2007/03/07 Council Agenda Packet

3 1.0 PURPOSE OF REQUEST FOR PROPOSAL The purpose of this Request for Proposal ("RFP") is to find a qualified developer to acquire and re-develop a currently City-owned site in downtown Everett at the corner of Wall Street and Colby Avenue. The City wishes to have the property become a mixed use development that would include a condominium and/or hotel and/or office building with retail and/or restaurant use on the first floor. The City is seeking responses from only those developers with a demonstrated development record and the existing capabilities to develop the Property. It will be expected that the selected developer(s) can perform pre-development, land development and vertical development. The City is seeking developers who can independently finance and construct improvements and is not seeking a fee development arrangement. 2.0 BACKGROUND INFORMATION 2.1 City Profile The City of Everett owns a site at the corner of Wall Street and Colby Avenue, which consists of two parcels. One parcel is currently used as a parking lot and the other is a three-story masonry building (approximate 15,307 square feet with a 5,416 basement) commonly known as the Culmback Building (together referred to as the"Property"). Everett is a bayside community nestled between the beautiful Cascade Mountain Range to the east and hundreds of forested islands and the oceanic wildlife of the Puget Sound to the west,with the Snohomish River and easy-to-access lakes close at hand. As the county seat, Everett is the center of economic development with an expanding high-technology industrial base, a deep-water port accessing the Pacific Ocean, an established, world-renowned manufacturing core and state-of-the-art naval station. Opportunities abound in our city. Everett is home to more than 100,000 residents on 25,000 acres of land and 9,600 acres of water. Along with its strong economy and substantial employment base, the area boasts a wide range of family-centered entertainment, cultural, recreational and educational opportunities. The climate is relatively mild year-round, with seemingly endless outdoor recreational activities. Industrialists from the east saw Everett's potential as a business hub more than a century ago and led its development as a lumber and mill town. Today, the area offers a high quality of life, a vital center for businesses of all types and an important deep-water port that provides access to overseas markets. 8 Everett Downtown Mixed-Use Development(Allen Buick/Culmback Property)-RFP Page 3