2012/03/07 Council Agenda Packet

1 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. The Everett Station area was established with the completion of the Everett Station Multi-Modal Center in 2002. The Property offers excellent access to public transportation and is the cornerstone of a community in the process of redevelopment. A multi-story structure will offer remarkable views of Mount Baker,the Cascades,and Mount Rainier from upper floors. 2.2 Station Area Profile The Property is located on Smith Street between 32'd Street and 33rd. It is located across from the Everett Station(a four-story multi-modal transit center and office building). Everett Station is the northern terminus for Sound Transit's regional express bus service and Sounder commuter rail. Five bus agencies serve the station with 1,100 buses arriving or departing every weekday. Amtrak and Greyhound have their Everett terminals at the station. Most of the office and classroom space at the station is occupied by state and federal employment security activities. There is one retail coffee related business at the station as well as Everett Transit's customer service and sales office. A bus leaves from the station to downtown Everett about every 5 minutes. Three blocks west and one block north is the Snohomish County Government Complex, and two blocks west and two blocks north is the Everett Events Center. The Events Center is the home of the Everett Silver Tips, a WHL hockey team. The Events Center has the capacity of up to 10,000 for concerts and conferences. Interstate 5 is approximately 1/4 mile to the east of the Property. The Property is approximately 20 minutes from the Boeing Everett plant, 20 minutes from the Interstate 405 tech corridor, and 45 minutes from downtown Seattle. 2.3 Transit Oriented Development National, state, and regional policies support maintaining the integration of land use and transportation decisionsto create a more efficient use of urban land that leads to improved air quality, reduced suburban sprawl, and increased transit ridership. Transit Oriented Development is intended to stimulate social,environmental and financial benefits. "Transit-Oriented Development" (TOD) means compact public and private development that supports transit use by emphasizing pedestrian and transit access, such as by clustering development and mixing land uses and activities at and around transit facilities. See Exhibit A— Ten Principles for Successful Development Around Transit. 3.0 PROPERTY INFORMATION 3.1 Property Description Smith Street TOD-RFP Page 4 6