Published March 2003

New apartments to meet ‘demand to live downtown’

By Eric Fetters
Herald Business Writer

A new seven-floor apartment building is rising above Colby Avenue in downtown Everett, promising great views and a location near the city’s business core.

The Peninsula Lofts and Suites, under construction at 3120 Colby Ave., is a development of Skotdal Real Estate. The $6 million complex is scheduled to be completed by fall.

“We think there’s a demand to live downtown, as opposed to the suburban areas,” said Craig Skotdal, president of the Everett firm.

Located just south of Pacific Avenue on a former car sales lot and adjacent property, the new development is in a neighborhood with several smaller and older apartment complexes.

The 61,000-square-foot Peninsula building includes five levels of one- and two-bedroom apartments, each ranging from about 540 to 985 square feet, and two parking levels, according to Skotdal and plans on file with the city of Everett.

The loft-style apartment units feature high ceilings, big windows and private balconies to take advantage of the view of Port Gardner Bay and the downtown area. High-speed Internet access will be available in the units.

A large space on the street level may become available for commercial use, although plans on file with the city currently show it designated as an activity room for residents. Skotdal said the exact use of the space is still undecided.

While not a high-rise in Seattle terms, the 65-foot-tall Peninsula building is becoming a visible part of Everett’s skyline a year after another multi-story apartment complex, The Nautica, began leasing its downtown units at the corner of Hewitt and Grand avenues. More than 100 of the 121 units at The Nautica are leased, according to Mastro Properties, one of that project’s developers.

Skotdal said the rates for the Peninsula apartments have not been set. Similarly sized units at The Nautica rent for $675 to $1,075 a month.

Back to the top/March 2003 Main Menu