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.
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