Quick Definition: The Everett Link Extension is a planned 16-mile light rail segment connecting Lynnwood City Center to Everett Station with six new stations. Sound Transit targets a 2037 opening to SW Everett Industrial Center and 2041 full service to Everett Station, pending closure of a $500 million funding gap.

We’ve been watching the Everett Link Extension timeline shift around for a few years now, and 2026 is shaping up to be one of the most consequential years for the project since voters approved ST3 back in 2016. This spring, Sound Transit is preparing to release its Draft Environmental Impact Statement — the document that narrows down exactly where the tracks, stations, and operations facility will go. This is what you need to know right now.

Where the Project Stands in April 2026

The Everett Link Extension remains in its Planning Phase, with the Draft Environmental Impact Statement (EIS) expected to be released for public review in 2026. The Draft EIS is a big deal — it’s the point where Sound Transit presents the preferred alignment, the six station locations, and the environmental and community impacts of building 16 miles of elevated light rail through Snohomish County.

Once the Draft EIS is released, there will be a public comment period. Then Sound Transit prepares the Final EIS, currently expected around 2027. The Sound Transit Board formally votes on the route and station locations after the Final EIS — no shovels in the ground before that point.

• 2026: Draft EIS release and public comment period
• 2027: Final EIS and Board decision on preferred route and stations
• 2030–2036: Construction phase
• 2037: Target service opening to SW Everett Industrial Center
• 2041: Projected full service to Everett Station

The Six Planned Stations — What We Know

The Everett Link Extension adds six new stations to the regional Link light rail network, connecting riders from the Lynnwood City Center terminus northward into Snohomish County. Here are the six stations currently planned:

West Alderwood — Connects to the area between Lynnwood and southwest Snohomish County neighborhoods currently underserved by rail.

Ash Way — Positioned near the Ash Way Park-and-Ride on I-5, already a major transit hub for express bus commuters heading to Seattle.

Mariner — Serves the Mariner community in south Everett near the I-5 and Highway 526 interchange.

SW Everett Industrial Center — Located near Boeing’s primary Everett manufacturing campus. This is the station that puts light rail walking distance from one of the region’s largest employment sites. Targeted as the first endpoint of service in 2037.

SR 526/Evergreen — Near Everett’s southern approaches, serving Paine Field-area commuters.

Everett Station — The northern terminus, connecting Link directly to Everett’s Amtrak Cascades and Sounder commuter rail hub downtown. Full service here is targeted for 2041.

A seventh provisional station at SR 99 and Airport Road is also being studied, though it is not currently funded and would need additional financial support to be included.

The $500 Million Funding Gap — What It Actually Means

We’re not going to bury the hard part: Sound Transit has a $500 million affordability gap on this project. That’s a real number from Sound Transit’s own project documents — not a rounding error or a worst-case scenario.

In practice, Sound Transit is pursuing increased local, state, and federal funding while simultaneously exploring cost-reduction options — different construction approaches, phasing strategies, or station design changes that could bring the price down without cutting service quality.

The ST3 System Plan — the broader 25-year transit expansion voters approved in 2016 — is also up for a structural review by the Sound Transit Board in summer 2026. The board is evaluating “different approaches to updating the ST3 System Plan,” which could include new ways to build, phase, or sequence projects, including the Everett extension.

What this means practically: if the board decides to phase the project and build to the SW Everett Industrial Center station by 2037 first, then complete the final stretch to Everett Station later, the shape of the project changes significantly. If new funding closes the gap, the 2037/2041 timeline firms up. We’ll be tracking whatever comes out of those board discussions as they develop.

What the Draft EIS Will Tell Us

When Sound Transit releases the Draft EIS this year, it will contain:

• The preferred alignment — the exact route the tracks follow
• Station designs and footprint maps for all six locations
• Property acquisition requirements
• Environmental impact analysis: noise, traffic, wetlands, neighborhood effects
• Community benefit assessments
• The preferred location for the Operations and Maintenance Facility North (OMF North), a critical piece of system infrastructure targeted for a 2034 opening

The public comment period following the Draft EIS release is the moment for Snohomish County residents to officially weigh in. Station design concerns, community impacts, park-and-ride configurations — all of that input gets recorded in the official planning record during this window.

Why This Matters for Everett’s Development Boom

We’ve spent a lot of time covering Everett’s physical transformation — the waterfront, the stadium project, the housing surge. Light rail sits underneath all of it as a long-term infrastructure bet.

When Everett Station connects to the regional Link network, the entire corridor from downtown Everett to Seattle becomes a roughly 45-minute commute without a car. That changes the math on living in Everett for people working Seattle-based jobs. It changes what downtown Everett can support in terms of retail, restaurants, and density.

The Port of Everett’s Millwright District, the new downtown stadium, the apartments going up near the transit center — every one of these projects is betting on a future where Everett is a complete city, not a staging area for a Seattle commute. The $500M funding gap and the 2037-2041 window is the biggest variable in that long-term calculation.

Frequently Asked Questions

When will the Everett Link Extension open?
Sound Transit is targeting 2037 for service to the SW Everett Industrial Center station and 2041 for full service to Everett Station. Both timelines are contingent on closing a $500 million funding gap.

How many stations will the Everett Link Extension have?
Six stations are planned: West Alderwood, Ash Way, Mariner, SW Everett Industrial Center, SR 526/Evergreen, and Everett Station. A seventh station at SR 99/Airport Road is being studied but is not currently funded.

What is the Everett Link Extension Draft EIS?
The Draft Environmental Impact Statement is expected to be released in 2026. It identifies the preferred route alignment, station locations, and environmental and community impacts. There will be a public comment period after its release.

How long is the Everett Link Extension?
Approximately 16 miles of new light rail, running from the Lynnwood City Center terminus north to Everett Station.

What is the $500 million funding gap?
Sound Transit has identified a $500 million shortfall between current projected revenues and the estimated cost of the Everett Link Extension. The agency is pursuing additional local, state, and federal funding as well as cost-reduction options.

What is the ST3 System Plan review?
The Sound Transit Board is evaluating different approaches to updating the ST3 System Plan in summer 2026. This could include new ways to build, phase, or sequence projects — potentially affecting the Everett extension timeline.

Will there be park-and-ride access at Everett Link stations?
Yes. The Ash Way station connects to an existing major Park-and-Ride facility. Specific configurations at each station will be detailed in the Draft EIS.

How does this connect to existing Everett transit?
The extension terminates at Everett Station, which serves Sounder commuter rail and Amtrak Cascades. It will also connect with Community Transit bus routes throughout the corridor.

What’s happening in Everett’s housing market right now? Everett’s market is uneven in spring 2026. Homes under $750K are moving fast — sometimes within days. The higher end is slower and more price-sensitive. The median sale price has softened from recent highs, with Redfin reporting a February 2026 median of $547,000. Here’s what buyers, sellers, and renters should know heading into spring.

Every month we try to give you a real read on what’s happening in Everett’s housing market — not the national headlines, not the Puget Sound generalities, but what’s actually moving (or not moving) on the ground in our city. This month’s picture is more nuanced than the headline numbers suggest, so let’s dig in.

The Headline Numbers: What Everett Homes Are Actually Selling For

As of the most recent data available for early 2026, the median sale price of a home in Everett was $547,000 — according to Redfin data through February 2026. That’s down about 11.6% compared to the same period a year ago, and the median sale price per square foot sits at $394, which is actually up 0.9% year-over-year.

Zillow’s methodology shows a slightly different picture: the average home value in Everett at approximately $619,916, down about 5.9% over the past year. The difference between Redfin’s and Zillow’s numbers reflects different calculation methods — Redfin uses actual sale prices, Zillow uses estimated market value — but both point in the same direction: a market that has cooled from its 2022–2023 peak but remains active.

The Split Market: It Depends Entirely on Your Price Point

Here’s what local market data is showing us, and it’s important: Everett’s housing market is not performing uniformly. It’s splitting cleanly by price point.

Under $750,000: Active and Moving

If you’re buying or selling under $750,000, you’re in the strongest part of the market right now. Homes in this range are attracting active buyers, moving quickly, and holding their value well. This is where first-time buyers and move-up buyers are competing, and competition is real enough that sellers in this range are seeing offers near — or at — list price.

$750,000–$949,000: Active But Selective

The upper-middle tier is moving, but only for homes that are priced right and show exceptionally well. Overpriced homes in this range are sitting. Buyers at this price point have options and they know it — they’ll wait for the right product at the right price. Sellers need to be realistic.

$950,000+: Slow

The luxury tier in Everett has slowed noticeably. Days on market are longer and price reductions are more common. This reflects both the interest rate environment and the reality that Everett’s luxury buyer pool is thinner than comparable markets in Bellevue or Kirkland.

The Fastest Moving Property Type Right Now: Townhomes

If there’s one standout in Everett’s spring 2026 market, it’s townhomes. The average time to go under contract for a townhome in Everett is running at approximately 6 days — among the fastest of any property type in the city. Of 21 townhomes that sold in the most recent tracked month, that 6-day average tells you exactly how much demand exists for this product.

Why? Townhomes hit the under-$750K sweet spot for most Everett buyers, they offer more square footage than a condo at a lower price point than a detached single-family home, and their maintenance profile appeals to working households who don’t want to deal with a yard. In a market where detached homes can feel out of reach, townhomes have become the go-to entry point.

New Construction: Inventory Without Buyers

New construction is telling an interesting story right now. There’s a solid inventory of new builds in the Everett area — but actual sales activity has been light. In a recent tracked month, only one new construction home sold, and it went over list price. That single data point tells you two things simultaneously: buyers are discerning about new construction (often due to price or location), but when the right product shows up, competition emerges fast.

Watch this space as the Millwright District’s 300+ new waterfront apartments come online in 2026 — they’ll be rental product, not for-sale, but they’ll add significant new inventory to the overall residential supply picture along the waterfront.

What’s Driving the Year-Over-Year Softening?

The 11.6% year-over-year decline in Everett’s median sale price isn’t a crash — it’s a correction from the extraordinary run-up the market saw in 2021–2023. Several factors are at play:

• Interest rates — Mortgage rates remain elevated compared to the pandemic-era lows that fueled the frenzy. Monthly payments on a median-priced Everett home are significantly higher than they were in 2021 even at a lower purchase price.
• More inventory — More sellers entered the market in 2025 and 2026 as people who had been waiting for rates to drop decided to move anyway. More supply = less upward price pressure.
• National uncertainty — Broader economic uncertainty has made some buyers cautious, especially in the upper price tiers.

If You’re Buying in Everett Right Now

Spring 2026 is a legitimate window for buyers who’ve been waiting. The market has softened from its peak. The under-$750K range is competitive but not frantic — offers are coming in at or near list, not 20% over with waived inspections. You have more time to think, but not unlimited time: well-priced homes in good locations are still moving in days, not weeks.

If you’re targeting a townhome, move fast. That segment is the hottest in the city right now. If you’re looking at detached single-family above $750K, you have negotiating room — use it.

If You’re Selling in Everett Right Now

Pricing matters more than it has in years. The “just price it high and see what happens” strategy that worked in 2021–2022 doesn’t work in spring 2026. Homes that are priced to the current market are selling well and quickly. Overpriced homes are sitting and requiring reductions — which signals weakness to buyers and costs you time and money.

The good news: if you bought before 2020 and you’re selling now, you’re almost certainly still well ahead on appreciation. The correction has pulled prices back from peak, not back to pre-pandemic levels.

Frequently Asked Questions

What is the median home price in Everett WA in 2026?

As of early 2026, Redfin data shows a median sale price of approximately $547,000 in Everett, WA, with a median price per square foot of $394. Zillow’s estimate for average home value in Everett is approximately $619,916. Both metrics reflect a modest year-over-year decline from 2025 peaks.

Is the Everett housing market a buyer’s or seller’s market in 2026?

It’s a split market. Under $750,000 — where most Everett transactions occur — it’s still fairly competitive for sellers, with homes moving quickly and near list price. Above $750,000, buyers have more leverage, more options, and more time to negotiate.

How long does it take to sell a home in Everett WA?

It depends heavily on property type and price point. Townhomes in Everett are averaging approximately 6 days to go under contract in spring 2026 — among the fastest of any property type. Detached single-family homes in the $750K–$950K range are taking longer, sometimes weeks, if not priced correctly.

Are Everett home prices going up or down in 2026?

Prices are modestly down year-over-year compared to early 2025, with Redfin showing approximately an 11.6% decline in median sale price and Zillow showing approximately a 5.9% decline in average home value. Both reflect a correction from 2022–2023 peaks rather than a significant crash.

What types of homes are selling fastest in Everett in 2026?

Townhomes are the fastest-moving property type in Everett’s spring 2026 market, averaging approximately 6 days to go under contract. They hit the high-demand under-$750K price range and offer more space than condos at a lower price than detached homes.

Is new construction available in Everett WA?

Yes, there is new construction inventory available in the Everett market in 2026, but sales activity has been relatively slow — only one new construction home sold in a recent tracked month, though it went over list price. The Millwright District at Waterfront Place is adding 300+ new rental units to the market in 2026.

Where does Everett’s stadium stand right now? As of spring 2026, Everett’s proposed downtown Outdoor Event Center has grown from an $82 million project to a $120 million project — leaving a $38 million funding gap that must be closed before the city council can give final approval. Here’s a plain-language breakdown of where the money comes from, where it doesn’t, and what happens next.

We’ve been tracking Everett’s proposed downtown stadium since the first conceptual drawings surfaced, and lately the news has gotten more complicated. The price tag climbed from $82 million to $120 million. A $38 million funding gap opened up. City council approval is still pending. And yet Mayor Cassie Franklin is calling it a “once in a generation opportunity” and promising the gap will close.

So what’s actually going on? Let’s walk through it — all the numbers, all the players, and the honest question of whether this stadium gets built by 2027.

The Project, Explained

The Everett Outdoor Event Center — commonly called the downtown stadium — is planned for a downtown block bounded by Hewitt and Pacific Avenues, east of Broadway. The project is designed to be a multi-use venue: it would host Everett AquaSox minor league baseball games, two United Soccer League teams (still in lease negotiations as of spring 2026), and year-round events including concerts and community gatherings.

The design-build team is DLR Group and Bayley Construction — both well-established in Pacific Northwest stadium and arena work. Design reached 60 percent completion earlier in 2026, and city officials say a full plan and budget will be ready “very soon.”

The city’s target: get the AquaSox playing there for the April 2027 baseball season. That’s less than 12 months away.

Where Did the $120 Million Figure Come From?

The project originally carried an $82 million price tag. That number grew to $120 million for two reasons, according to city special projects manager Scott Pattison:

• More property acquisitions needed. The city needs to acquire more parcels on the proposed site than originally anticipated. At least 17 businesses currently occupy the proposed footprint, and property acquisition costs have risen.
• Construction cost inflation. Like virtually every major construction project in the Pacific Northwest since 2022, the stadium’s hard construction costs have increased significantly.

The $120 million is the current estimate. City officials acknowledge the design isn’t fully complete, which means the final number could still move before council votes.

Where Is the Money Coming From?

Here’s the funding stack as it currently stands, based on the city’s own presentation documents:

• City of Everett bonds: ~$40 million — This is the city’s primary funding vehicle. The bonds would be repaid through stadium revenue: ticket sales, event fees, naming rights, and other stadium income. The city had already planned this piece before the cost increase.
• State of Washington: ~8% of total (~$9.6M) — The state has committed to contributing, though the exact mechanism and timeline haven’t been finalized.
• Snohomish County: ~4% (~$4.8M) — The county is in for a contribution as well.
• Everett AquaSox ownership: ~9% (~$10.8M) — The team’s ownership group is contributing as a condition of occupying the stadium.
• United Soccer League: ~9% (~$10.8M) — The USL is expected to contribute similarly, pending final lease agreements.

Add that up: roughly $76 million committed or expected. Against a $120 million budget, that leaves the $38 million gap.

How Does Everett Plan to Close the Gap?

This is the central question. City officials and the mayor are pointing to two strategies:

1. Private Investment

The city is actively seeking private investors — local and regional business leaders and investors who would put capital into the project. Mayor Franklin’s State of the City address in March 2026 emphasized that Everett needs “new pathways to long-term, sustainable revenue” and positioned the stadium as a catalyst for that investment. City council members have pointed to similar projects on the West Coast where private dollars closed comparable gaps.

2. Additional Municipal Bonds

If private investment doesn’t cover the full gap, the city may issue supplemental bonds. This is the less popular option — it puts more city debt on the table — but officials say they’re confident the stadium’s revenue stream can support additional bond service.

The Everett Chamber of Commerce has publicly supported the project, and the Herald’s editorial board has urged the city to keep pushing on funding. But there’s also real community skepticism: the Snohomish County Tribune has published critical op-eds questioning whether taxpayers should shoulder more of the cost.

What Has to Happen Before Council Votes?

Before city council can give final approval to build the stadium, three things need to happen:

• The $38 million gap must be closed — or at least have a credible, council-approved funding plan.
• Property purchases must be finalized — Two parcels are under contract as of spring 2026, but none have closed. The city can’t finalize designs without knowing what land it controls.
• Lease agreements must be signed — The AquaSox and USL lease negotiations are ongoing. The city expects these to wrap within weeks, but “weeks” has been said before.

Council then needs to vote to approve the project. That vote is the formal green light for construction to begin — and construction needs to start almost immediately if the April 2027 deadline is going to hold.

What Happens if the Timeline Slips?

The AquaSox are currently playing at Funko Field. If the new stadium isn’t ready for April 2027, they stay at Funko Field. The USL timeline also slides. The economic activity the city is projecting — “tens of millions of dollars” annually, per Mayor Franklin — gets pushed out by at least a year, probably more.

For context: the original cost estimate was $82 million. It’s now $120 million. The original target was to open before 2027. We’ll see if that timeline holds.

Our Take

We want this stadium built. A multi-use venue in downtown Everett — baseball, soccer, concerts, community events year-round — is exactly the kind of infrastructure that accelerates the momentum we’re seeing at the waterfront and in the downtown core. The location makes sense. The design makes sense. The teams make sense.

But the funding math needs to close, and close publicly, before this becomes a real project instead of a very expensive set of architectural renderings. The city owes residents a clear, accountable answer to: who is putting in the $38 million, and what happens if they don’t? We’ll be watching every council session until we get it.

Frequently Asked Questions

How much does the Everett downtown stadium cost?

As of spring 2026, the estimated cost for the Everett Outdoor Event Center is $120 million, up from an original estimate of approximately $82 million. The increase reflects additional property acquisition needs and construction cost inflation.

Where is the Everett stadium going to be built?

The stadium is planned for a downtown Everett block between Hewitt and Pacific Avenues, east of Broadway. At least 17 businesses currently occupy the proposed site and will need to relocate.

Who is funding the Everett downtown stadium?

Funding comes from a mix of sources: approximately $40 million in city bonds (repaid by stadium revenue), contributions from the state of Washington, Snohomish County, the Everett AquaSox ownership, and the United Soccer League. A $38 million gap remains to be filled by private investors or additional bonds.

When will the Everett stadium open?

The city is targeting an opening for the April 2027 Everett AquaSox baseball season. City council has not yet given final approval to build. Construction would need to begin in 2026 to hit a 2027 opening.

Who will play in the Everett downtown stadium?

The stadium is designed for the Everett AquaSox (minor league baseball), two United Soccer League teams, and year-round events including concerts and community events. USL lease negotiations were still ongoing as of spring 2026.

Who is designing the Everett stadium?

DLR Group is the architect and Bayley Construction is the design-build contractor for the Everett Outdoor Event Center. Design was approximately 60 percent complete as of early 2026.

Has Everett city council approved the stadium?

No. As of spring 2026, city council has not given final approval to build the stadium. Final approval requires closing the funding gap, completing property acquisitions, and finalizing lease agreements with the sports teams.

What is the Millwright District? The Millwright District is the 10-acre second and largest phase of the Port of Everett’s Waterfront Place mixed-use development. Phase 2 adds 300+ residential units, 60,000+ square feet of retail and restaurant space, and 200,000+ square feet of commercial and office space to Everett’s working waterfront near the downtown core.

We’ve been watching the Millwright District take shape for years — the cranes, the construction fencing, the slow march of change along the waterfront. And right now, in spring 2026, the second and largest phase of Waterfront Place is officially underway. Private development partner Lincoln Properties is breaking ground on 300+ new residential units at the Millwright District, and when it’s done, the Port of Everett’s 65-acre waterfront transformation will look nothing like what stood here a decade ago.

Here’s what we know, what’s coming, and why this matters for everyone who lives in or near Everett.

What Is the Millwright District, Exactly?

The Millwright District sits within the broader Waterfront Place development — the Port of Everett’s $1 billion-plus effort to transform 65 acres of working waterfront into a mixed-use neighborhood. Phase 1 of Waterfront Place has already delivered: Restaurant Row is now home to Tapped Public House (which opened March 2, 2026, with Snohomish County’s largest open-air rooftop deck), Rustic Cork Wine Bar, The Net Shed Fresh Fish Market & Kitchen, and more tenants arriving this spring.

Phase 2 — the Millwright District — is a different scale entirely. We’re talking about a full 10-acre neighborhood being built from scratch, right on the waterfront near Everett’s downtown core. The project will deliver:

• 300+ residential units — waterfront apartment homes on Everett’s marina edge
• 60,000+ square feet of retail and restaurant space — a full neighborhood commercial district
• 200,000+ square feet of commercial and office space — bringing employers to the waterfront

Lincoln Properties, a national developer with a significant Pacific Northwest portfolio, is the Port’s private development partner on this phase. The groundbreaking for the first residential building was targeted for late 2025 into early 2026, with units expected to deliver as the project completes its build-out over the next several years.

Why Apartments on the Waterfront Are a Big Deal for Everett

Everett has been trying to bring residents to its downtown and waterfront for years. The Millwright District’s 300+ units represent one of the largest infusions of new residential supply the city has seen in a generation — and the location matters enormously.

These aren’t apartments tucked behind a strip mall off I-5. They sit within walking distance of the marina, Restaurant Row, the future Waterfront Place hotel properties, and — if things go according to plan — the Sound Transit Everett Link Extension station that will eventually connect the waterfront to Seattle’s light rail network.

Before Phase 2 breaks ground, the site already has 266 waterfront apartment homes from the first residential component of Waterfront Place. Add 300+ more units from the Millwright District, and you’re looking at nearly 600 waterfront homes where a working industrial port once sat. That’s a genuine neighborhood — with built-in foot traffic to support the retail and restaurant tenants the Port is recruiting.

The Port Is Still Hunting for a Flagship Dining Tenant

Alongside the residential groundbreaking, the Port of Everett is actively searching for one more piece of its restaurant puzzle: a high-end steakhouse or experiential dining concept willing to enter a long-term ground lease and build out a custom restaurant building on the final available parcel in the district.

This is significant because it signals the Port isn’t done curating Waterfront Place’s tenant mix — they want a flagship anchor that can draw diners from across Snohomish County and beyond. The right operator would build their own building on Port land, which is the kind of investment that only happens when a developer believes in a location’s long-term trajectory.

What the Full Waterfront Place Build-Out Looks Like

To understand the Millwright District in context, here’s what the complete 65-acre Waterfront Place development delivers when fully built out:

• 1.5 million square feet of total mixed-use development
• Two hotels — already in the plan and on site
• 566+ residential units (266 existing + 300+ Millwright Phase 2)
• Restaurant Row — multiple dining tenants open or arriving spring 2026
• Marine services — S3 Maritime opened early 2026 for recreational vessel maintenance
• Expanded public parking — with a free waterfront shuttle updated for 2026

The scale is hard to fully appreciate until you drive past it. This is not a small development. This is a new neighborhood being built on top of what used to be working waterfront infrastructure, and the pace has visibly accelerated since 2024.

What This Means for Everett’s Housing Supply

Everett’s housing market has been under pressure from demand and constrained supply for years. The latest data shows the median sale price in Everett near $547,000 in early 2026 — even amid some year-over-year softening. Adding 300+ new units to the waterfront won’t solve Everett’s affordability challenge on its own, but it adds meaningful supply in a location where none existed before.

These will be market-rate waterfront apartments — which means they’ll serve a specific segment of the market. But their arrival matters for the broader supply picture. Everett needs units. The Millwright District is delivering them.

Our Take

The Millwright District Phase 2 groundbreaking is the moment Waterfront Place stops being a promise and becomes a neighborhood. Restaurant Row proved the concept works — Tapped Public House is already packing in customers, and more tenants are coming. Now the residential component is arriving at scale, which means the foot traffic, the energy, and the sense of a real waterfront district are all about to intensify.

We’ll be at the waterfront watching the cranes go up. Follow along with us.

Frequently Asked Questions

When will the Millwright District apartments be ready?

Lincoln Properties began the groundbreaking phase for Millwright District residential units in late 2025 into early 2026. The full build-out of the 300+ units will unfold over several years.

Who is developing the Millwright District?

Lincoln Properties is the Port of Everett’s private development partner for the Millwright District. The Port retains ownership of the waterfront land.

How many apartments are in the Millwright District?

The Millwright District Phase 2 will deliver 300+ residential units. Combined with 266 existing waterfront homes in Phase 1, the full Waterfront Place development will have approximately 566+ waterfront residential units.

Is Millwright District the same as Waterfront Place?

The Millwright District is the second and largest phase of the Port of Everett’s broader Waterfront Place development. Waterfront Place is the 65-acre, 1.5-million-square-foot mixed-use project; the Millwright District is its 10-acre Phase 2 component.

What businesses are already open at Waterfront Place?

Restaurant Row at Waterfront Place includes Tapped Public House (opened March 2, 2026), Rustic Cork Wine Bar, and The Net Shed Fresh Fish Market & Kitchen. Menchie’s at the Marina and Marina Azul Cocina & Cantina are expected to open spring 2026. S3 Maritime also opened early 2026 for marine services.

Is there parking at Waterfront Place?

Yes. The Port of Everett offers two-hour free parking zones and a free waterfront shuttle with expanded service coming spring 2026. The Port published a 2026 Visitor Parking “Insider’s Guide” with full details at portofeverett.com.

What kind of flagship restaurant is the Port looking for?

The Port of Everett is seeking a high-end steakhouse or experiential dining concept interested in a long-term ground lease on the final available parcel in the Waterfront Place district. The chosen operator would build their own restaurant building on Port-owned land.

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Go Deeper: We’ve published detailed knowledge nodes expanding on this story for specific Everett audiences:

• Millwright District Phase 2: A Complete Guide to Everett’s New Waterfront Neighborhood
• Living at the Millwright District: What Everett’s New Waterfront Apartments Mean for People Moving to the City
• Visiting Everett’s Waterfront in 2026: What the Millwright District and Waterfront Place Are Becoming

Q: What is the median home price in Everett WA in April 2026?
A: The median home price in Everett, WA is $635,000 as of April 2026, down 0.8% year-over-year, with 190 new listings and homes spending a median of just 11 days on the market.

Everett Housing Market Update: April 2026 — What Buyers and Sellers Are Seeing Right Now

We pull together a monthly snapshot of the Everett housing market because the numbers tell a story that generic regional reports often miss. Everett is not Bellevue, and it is not Marysville — it has its own supply dynamics, its own buyer pool, and its own relationship between price and pace. Here is what the April 2026 data is showing us.

The Headline Numbers

The median home price in Everett, WA sits at $635,000 over the last 30 days, which is down 0.8 percent year-over-year. That modest year-over-year dip is worth noting, but it should not be read as a cooling market — the pace data tells a very different story. The median days on market is 11 days. There are 190 new listings that have come to market. Total active inventory is 410 homes for sale, which is up 18.2 percent compared to the same period last year.

More inventory, slightly lower median price, and homes still moving in under two weeks. That is the compressed version of where the Everett market sits right now.

The Market Is Splitting by Price Point

The most interesting dynamic in Everett right now is not the headline median — it is what is happening at different price points. Local market data is showing a distinct segmentation:

Homes priced under $750,000 are moving fast. Buyers in this range have very little time to deliberate before a well-priced home goes under contract. This is the core Everett market where competition remains sharp despite the inventory increase.

The $750,000 to $949,000 range has shifted notably. What was a slower, more deliberate segment has flipped to become extremely competitive in recent weeks. Buyers who were expecting more negotiating room in this range are finding less of it than they anticipated. This is a meaningful change for move-up buyers and for anyone relocating from Seattle or Bellevue who might be looking for more space at a price point below the million-dollar threshold.

Above $950,000, conditions are more variable, but even here the pace has accelerated. Segments that were sitting at around three months’ inventory-equivalent pace have compressed to under two weeks in some cases. High-end inventory in Everett remains limited, and when well-priced properties hit the market, they are not lingering.

The Sale-to-List Price Ratio

Everett homes are closing at a median sale-to-list price ratio of 100 percent — meaning the typical home is selling right at asking price. That is flat compared to the same period last year. Approximately 30.77 percent of homes sold above list price, which is down about 1.9 percentage points year-over-year. So slightly fewer bidding wars than a year ago, but competition is still very real for correctly priced homes.

The 100 percent sale-to-list ratio in a market with 11-day median days on market is a signal that sellers are pricing correctly and buyers are not finding much room to negotiate below list. If you are a buyer hoping to come in under asking price and negotiate your way to a deal, the data suggests that strategy is not working well in Everett right now, particularly under $750,000.

What the Inventory Increase Actually Means

A 18.2 percent year-over-year increase in total homes for sale sounds like a lot, and it is worth contextualizing. Everett’s inventory base was tight in 2025, so the increase from that compressed baseline still leaves total inventory relatively lean compared to balanced market conditions. Four hundred and ten active listings across a city of Everett’s size is not an abundance of choice for buyers — it is more options than last year, but not a buyer’s market by any meaningful definition.

The inventory increase is healthy. It gives buyers more options, reduces panic-buying dynamics, and contributes to the slight year-over-year softening in the median price. But it has not fundamentally shifted the supply-demand balance that has characterized Everett’s housing market for several years.

The Development Context: New Supply Coming Online

It is worth connecting the housing market numbers to the development activity we cover on this desk. The Port of Everett’s Waterfront Place project is adding residential and mixed-use capacity to the waterfront. The downtown core is seeing investment and potential transformation around the planned Outdoor Event Center site. These are not immediate supply additions that show up in April 2026 inventory numbers, but they represent the medium-term supply pipeline for Everett’s housing market.

Sound Transit’s Everett Link Extension — targeted for a Paine Field phase by 2037 — will have more immediate effects on housing demand near future station areas well before tracks are laid, as buyers and investors begin positioning around transit corridors. That dynamic is worth watching in neighborhoods adjacent to planned station sites.

For Buyers in April 2026

If you are shopping in Everett right now, the practical reality is: move quickly in the sub-$750,000 range and do not assume you have room to negotiate. The $750,000 to $949,000 range has tightened up, so if you were waiting for a softer moment there, you may have missed it. Above $950,000 is less predictable — specific properties and neighborhoods matter more at that price point than market-wide averages suggest.

Pre-approval and a clear understanding of your walk-away number are more important than they were a year ago when the market had slightly more breathing room.

For Sellers in April 2026

Correct pricing still matters. The 100 percent sale-to-list ratio reflects a market where sellers are pricing accurately and buyers are accepting those prices — not a market where sellers can pad the list price and expect to negotiate down to a reasonable number. Homes that come in overpriced are taking longer and sometimes requiring price cuts that cost more time and money than pricing right the first time.

The 11-day median days on market means a well-priced, well-presented home is under contract in under two weeks. That is a good market for sellers, but it rewards preparation and correct pricing rather than opportunism.

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.

See also: Everett’s $120M Stadium Gap: What Needs to Happen Before Ground Breaks | What the Stadium Means for Downtown Business Owners | Visitor’s Guide to Everett’s Planned Stadium

Q: What just opened at the Port of Everett waterfront?
A: Tapped Public House opened March 2, 2026 at Waterfront Place Restaurant Row, bringing craft beer, Pacific Northwest cuisine, and the largest open-air rooftop deck on the Snohomish County waterfront.

Restaurant Row Is Filling Up: Tapped Public House Opens at Port of Everett Waterfront Place

We have been watching the Restaurant Row building at the Port of Everett Waterfront Place take shape for months, and on March 2nd, the second tenant officially swung open its doors. Tapped Public House held a ribbon cutting that drew more than 100 people to the waterfront, and if the buzz that evening was any indication, this spot is going to be a fixture on Everett’s dining scene all summer long.

The new Tapped location sits on the second floor of the Restaurant Row building at Waterfront Place — the same building that houses Rustic Cork Wine Bar and Menchie’s at the Marina at street level. Walk upstairs and you find yourself looking out through floor-to-ceiling windows at Port of Everett Marina and Possession Sound. On warmer days, roll-up garage doors open the space completely to the outside. And then there is the rooftop deck — reportedly the largest open-air waterfront rooftop deck in Snohomish County.

What Is Tapped Public House?

If you have not been to one of the other three Tapped locations in Camano Island, Mill Creek, or Mukilteo, here is the short version: it is a craft beer-focused public house that takes its food seriously. The Everett location continues that tradition with a scratch kitchen turning out Pacific Northwest-inspired dishes, alongside craft beer, cider, wine, and other beverages curated for the setting. The vibe is casual enough for a post-hike beer and refined enough for a date night.

The Everett outpost is the brand’s fourth location, and based on what we are hearing, the Port of Everett waterfront may be its most dramatic backdrop yet. The combination of marina views, the rooftop experience, and the proximity to other Waterfront Place destinations makes this a natural anchor tenant for what the Port has been building out along Restaurant Row.

The Bigger Picture: Restaurant Row Is Taking Shape

Tapped Public House did not open in a vacuum. It is part of a deliberate buildout that the Port of Everett has been executing along its Waterfront Place mixed-use development — a 65-acre, 1.5-million-square-foot project that represents years of planning and investment. The Port has been methodically filling the Restaurant Row building, and the pieces are coming together.

Rustic Cork Wine Bar was the first tenant announced for Restaurant Row, establishing the wine-and-small-plates anchor. Menchie’s at the Marina adds the dessert and family-friendly dimension. And Tapped Public House brings the craft beer and full-menu draw that pulls a broader dinner crowd. Together, these three tenants cover a meaningful amount of the dining occasion spectrum without competing directly with each other.

But there is still one major opening left. The Port of Everett has publicly confirmed it is searching for a flagship dining tenant to occupy the final available parcel along Restaurant Row — specifically, the Port is seeking a high-end steakhouse or experiential dining concept to anchor the waterfront dining scene. That search is ongoing as of April 2026, and whoever lands that lease will be walking into an increasingly established dining corridor with built-in foot traffic from the marina and the surrounding Waterfront Place amenities.

Getting There and Getting Around

Tapped Public House is located at the Port of Everett Waterfront Place, in the Craftsman District of the development. If you have not been out to Waterfront Place recently, this spring is a good time to make the trip. The Port has also been expanding its free waterfront shuttle service, now rebranded as the Trawley, with plans for year-round operation and expanded capacity coming this season. Parking is available in the Port’s two-hour free zones, and the Trawley provides a free loop connecting the key Waterfront Place destinations.

We stopped by the area recently and the energy is noticeably different from even a year ago. The marina is full, the Restaurant Row building looks sharp, and having actual functioning restaurants with people dining in them changes how the whole development feels. It is starting to look like the vision the Port has been pitching for years.

What We Are Watching Next

The flagship dining search is still open: the Port is actively looking for a high-end steakhouse or experiential dining operator for the final Restaurant Row parcel. This is the capstone tenant that would complete the Restaurant Row vision.

S3 Maritime also recently opened its Port of Everett facility at 1205 Craftsman Way, Suite 107 in the Craftsman District in early March. It brings over 2,600 square feet of marine repair, refit, and technical services to the port — another piece of the commercial ecosystem the Port has been assembling alongside the dining and retail tenants.

And the Trawley expansion is coming: the Port plans year-round service with added capacity this spring. For visitors who want to park once and explore the whole waterfront without moving their car, the Trawley makes Waterfront Place significantly more accessible.

Why This Matters for Downtown Everett

A single restaurant opening is not a transformation. But the sequence of openings at Waterfront Place over the past 18 months — viewed together — tells a story of a major public-private development actually delivering on its promises. The early phases involved infrastructure, marina expansion, and capital projects that do not generate foot traffic. Now, in early 2026, we are watching the public-facing layer of the project come alive: dining, retail, marine services, the shuttle. These are the elements that turn a development project into a destination.

Tapped Public House and its rooftop deck opening in March is not the headline of the Waterfront Place story — it is one more confirmed chapter. The question we are watching: who lands the flagship steakhouse parcel, and when?