Q: What is the current cost estimate for the Everett downtown stadium?
A: As of early 2026, the Everett Outdoor Event Center is estimated to cost $120 million — up $38 million from the previous estimate — with construction now targeted for 2027 and games beginning in 2028.

Everett’s Downtown Stadium Price Tag Climbs to $120M: What the $38M Gap Means for the AquaSox and USL Project

We have been following the Everett Outdoor Event Center closely since the city first committed to the concept, and the latest numbers deserve an honest look. Documents shared with city council members in January 2026 and reported publicly in February revealed that the stadium’s estimated cost has grown to $120 million — about $38 million more than the estimate from last May. That is not a rounding error. It is a real funding challenge that the city, the AquaSox, and prospective soccer tenants now have to solve before a shovel goes in the ground.

Here is where things stand as of April 2026, and what we think matters most about the path forward.

How Did the Cost Jump by $38 Million?

The short answer: construction costs have gone up across the board, and the stadium project is not immune. The city’s original financial model anticipated a cost significantly below $120 million, with a planned $40 million in revenue bonds — paid off by the stadium’s own revenue stream — providing the bulk of the funding. State contributions, Snohomish County dollars, and commitments from both the Everett AquaSox and the prospective United Soccer League (USL) teams were also part of the mix.

That plan still exists. But the new $38 million gap has to be closed before the city council can formally approve the project. City staff are clear about the sequencing: find the funding, finalize the lease agreements with the teams, negotiate the property purchase at the site, and then bring it to council for approval. The council cannot move forward until those three conditions are met.

The Site and What Gets Built There

The planned location is downtown Everett, with most of the block between the site boundaries — except the buildings fronting Hewitt Avenue — slated for demolition to clear the footprint. Twenty-eight privately owned parcels make up most of that block, and property acquisition is part of the pre-construction work the city needs to complete.

The design-build team is DLR Group and Bayley Construction, selected through the city’s Progressive Design-Build (PDB) process. As of early 2026, the design is at roughly 60 percent completion. The full plan and budget — the version that actually goes to council — is expected to be ready soon, with the city’s stated goal of having the stadium ready for baseball by April 2027. Following the funding news, city staff placed the revised construction start in 2027, pushing the opening to 2028 for both baseball and soccer.

Mayor Franklin’s Take: Momentum and a Funding Plan Coming

Mayor Cassie Franklin addressed the stadium directly at her March 5, 2026 State of the City address inside the New Everett Theater on Colby Avenue. The speech leaned into the city’s broader momentum — crime reduction, housing growth, annexation plans — with the stadium cited as a symbol of downtown revitalization. On the funding gap, the mayor signaled that a formal funding plan is coming to council soon, with an emphasis on private-public partnership dollars as the preferred first approach.

The city is working first with private investors — regional businesses and corporations — plus public agencies to find as much non-city funding as possible. If that falls short, additional city bonds are on the table to fill whatever gap remains. The editorial board of the Everett Herald has weighed in supporting the effort to fund the project, and the Everett Chamber of Commerce has issued formal support. There is also community pushback: a piece in the Snohomish County Tribune argued that taxpayer funding for a minor league stadium is not the right use of public dollars. That debate is real, and the council will have to navigate it.

The AquaSox and USL Dimension

The stadium is designed to serve both the Everett AquaSox (Minor League Baseball, an affiliate of the Seattle Mariners) and potentially both a men’s and women’s United Soccer League team. The AquaSox currently play at Funko Field at Everett Memorial Stadium, which was built in the 1960s and has aged considerably. A new downtown facility would represent a major upgrade for the franchise and for fans.

The USL angle is compelling from an economic standpoint: dual-sport use expands the number of event days the facility can generate revenue, which directly improves the financial model underlying the revenue bonds. More event days means stronger debt service coverage, which means the bonds are a safer bet. That is why both sports tenants matter to the funding math, not just the fan experience.

What We Are Watching

There are several decision points ahead that will determine whether this stadium actually gets built on the current timeline:

The council presentation: City staff have committed to presenting a formal funding plan to council soon. That presentation will include how the $38 million gap is proposed to be closed — and whether private investment dollars materialize, or whether additional city bonds are needed.

Property acquisition: The city needs to negotiate the purchase of 28 privately owned parcels. That process involves appraisals, negotiations, and potentially condemnation proceedings if sellers do not agree on price. Timeline uncertainty here is real.

Lease agreements: The AquaSox and USL tenants need signed lease agreements before the project can move to council. Those negotiations are ongoing.

Design completion: The 60 percent design milestone needs to reach 100 percent, with a budget that the city and its design-build team can both commit to. Any further cost escalation at this stage could reopen the funding math again.

Is This Stadium Still Happening?

We think the honest answer is: probably yes, but on a compressed timeline with real funding risk. The political will exists — the mayor is behind it, the chamber is behind it, the council has already approved $4.8 million in stadium spending to get to this point. The question is whether the private investment dollars materialize quickly enough to keep the 2027-2028 construction and opening timeline intact.

If the private funding effort comes up short and the city has to go to additional bonds, that will face a political test with the council and with the public. Everett voters and taxpayers are paying attention. The Herald editorial support helps, but so does the Tribune’s skepticism — it represents a real constituency.

What we know for certain: the stadium as designed, at $120 million, would be a transformative piece of downtown Everett’s physical fabric. Whether the city can close the gap and break ground in 2027 is the story we will be tracking all year.