What’s happening? The Port of Everett Commission adopted a $70 million operating and capital budget for 2026 on November 12, 2025. The budget includes $8.1 million for Seaport modernization, $2.6 million for new public infrastructure and Waterfront Place retail and restaurant buildings, and $7.1 million for maintenance and preservation of Port facilities including pier strengthening, marina bulkhead work, boat launch updates, and dredging. The 2026 spending represents the next phase of the Port’s $1 billion Waterfront Place redevelopment.
If you’ve been watching cranes and construction fences pop up along Everett’s waterfront and wondering what’s actually funded versus what’s still hypothetical, the Port of Everett’s 2026 budget is the most useful document you can read. The commission adopted it in November, and the real-world execution is what’s driving the activity you’re seeing right now.
We pulled out the line items that matter for anyone who lives in Everett, works near the marina, or just watches the waterfront change.
The Headline Number
The Port of Everett commission adopted a $70 million operating and capital budget for 2026. The commission described the budget as continuing to deliver on the Port’s Strategic Plan for “a vibrant and balanced waterfront despite challenges amid changing tariff guidance and market uncertainty.”
That tariff language is worth pausing on. The Port of Everett operates the largest public marina on the West Coast and a working seaport that handles oversized cargo for Boeing, aerospace components, and other industrial freight. Shifts in trade policy directly affect seaport revenue. A balanced budget that funds both the marina recreation side and the seaport industrial side is how the Port keeps itself resilient when one side wobbles.
Where the Capital Dollars Go in 2026
The 2026 capital program breaks out into three big buckets:
$8.1 million — Seaport Modernization
This covers two headline initiatives:
- Electrifying the pier — a shift toward shore power capability for vessels docked at the Port’s marine terminals, reducing diesel generator use and emissions while docked. This aligns with broader Pacific Northwest port decarbonization goals.
- Security upgrades — infrastructure improvements for the seaport’s security perimeter, cargo handling, and access control.
$2.6 million — Public Infrastructure and Waterfront Place Buildouts
This is the bucket most Everett residents will actually see. It includes:
- Public infrastructure improvements (streets, sidewalks, utilities inside Waterfront Place)
- New retail and restaurant buildings
- Public access improvements
This is the money that funds the visible changes along Craftsman Way — the buildings going vertical, the promenade extensions, and the connections between the marina and downtown.
$7.1 million — Maintenance and Preservation
Probably the least glamorous number on the list, but arguably the most important. This bucket covers:
- Pier strengthening — keeping industrial seaport infrastructure safe and operational
- Marina bulkhead improvements — shoreline engineering that holds the marina in place
- Boat launch updates — including work at Jetty Landing, which is getting a major renovation with construction anticipated to start in 2027
- Dredging — keeping the marina’s 2,300 permanent slips and 5,000 lineal feet of guest moorage navigable
Combined, maintenance and seaport modernization represent more capital than the flashier Waterfront Place retail buildout — a reminder that the Port’s core business is still moving cargo and keeping vessels in water.
The Waterfront Place Big Picture
For context on where the $2.6 million in public infrastructure fits, here’s the full scope of what the Port of Everett’s Waterfront Place is building out, per Port documentation:
- Size: 1.5 million square feet of mixed-use development
- Footprint: 65 acres at the waterfront near downtown Everett
- Retail/restaurant space: 63,000 square feet
- Marine retail space: 20,000 square feet
- Office space: 447,500 square feet
- Hotels: Two waterfront hotels planned
- Housing: Up to 660 waterfront housing units
- Total expected investment: $1 billion in public/private capital
- Jobs projected: ~2,100 family-wage jobs at full build-out
- Annual tax revenue projected: $8.6 million in state and local sales taxes
- Invested to date: More than $350 million already deployed
The 2026 budget’s $2.6 million is one year’s layer on top of an already substantial stack. It’s the piece that gets Phase 2 — the Millwright District — closer to opening.
What This Means for Jetty Landing
One line item that often gets lost but matters a lot for Everett boaters: the Port secured a $1 million grant from the Washington State Recreation and Conservation Office (RCO) to help fund renovation work at the Jetty Landing Boat Launch, which is the state’s largest public boat launch.
In-water construction is anticipated to start in 2027. For now, the 2026 budget includes planning, design, and preliminary work that sets up that 2027 start.
If you launch a boat from Jetty Landing, expect the planning phase activity this year and real disruption next year.
How This Fits the Bigger Everett Story
Zoom out, and the Port’s $70 million 2026 budget is just one leg of a three-legged Everett transformation stool:
1. Port of Everett’s Waterfront Place — $70 million in 2026, $1 billion lifetime, 1.5 million square feet of mixed-use waterfront 2. Downtown Outdoor Event Center (stadium) — $120 million projected, targeting late-2027 opening 3. Sound Transit Everett Link extension — the light rail project connecting Everett to the regional network, now facing a $500 million funding gap
Each project has its own funding mechanism, its own timeline, and its own political dynamics. But together they represent roughly $2 billion in capital flowing into Everett infrastructure over the next decade. The Port of Everett is the one entity with the most predictable budget — it has independent taxing authority, grant access, and revenue from existing marina and seaport operations — which is why its work tends to actually happen on the schedule it sets.
That matters for anyone watching the waterfront. When the Port says construction crews will be at a given site in 2026, construction crews show up.
The New Fuel Dock Context
One detail worth calling out for 2025 → 2026 continuity: the Port’s new fuel dock opened in 2025. The 2026 budget is the first full operational year with the new dock, which means higher fuel service capacity for the marina’s 2,300 slips and guest moorage capability. For recreational boaters, it’s a tangible quality-of-life improvement that’s already in service.
Combined with the 18-plus marine service providers operating at the marina, the new fuel dock reinforces the Port’s goal of positioning the largest public marina on the West Coast as a full-service destination rather than just a place to store boats.
What to Watch From Here
Three things to keep an eye on across the rest of 2026:
- Millwright District openings — new buildings and roads in Phase 2 are scheduled to open beginning in 2026
- Pier electrification progress — look for construction activity at the seaport terminals
- RCO grant execution at Jetty Landing — design work this year sets up 2027 in-water construction
The citizen budget guide is available at portofeverett.com/2026Budget if you want the full line items. For the lived experience on the waterfront, the cranes and concrete trucks are a pretty good tell.
Frequently Asked Questions
How much is the Port of Everett’s 2026 budget? $70 million total for operating and capital expenses. The commission adopted the budget on November 12, 2025.
What does the Port of Everett’s 2026 capital budget include? $8.1 million for Seaport modernization (pier electrification, security upgrades), $2.6 million for public infrastructure, new retail/restaurant buildings, and public access at Waterfront Place, and $7.1 million for maintenance including pier strengthening, marina bulkhead improvements, boat launch updates, and dredging.
What is Waterfront Place? A 1.5 million square foot mixed-use development on 65 acres at the Port of Everett waterfront. At full build-out it will include 63,000 square feet of retail/restaurant space, 20,000 square feet of marine retail, 447,500 square feet of office, two hotels, and up to 660 housing units. Total expected investment is $1 billion.
How much has the Port of Everett already invested in Waterfront Place? More than $350 million in public and private capital has been deployed to date, according to Port documentation.
When does the Jetty Landing Boat Launch renovation start? In-water construction is anticipated to start in 2027. The Port received a $1 million grant from the Washington State Recreation and Conservation Office to help fund the work.
How many jobs will Waterfront Place create? The project is estimated to support nearly 2,100 family-wage jobs at full build-out, and generate $8.6 million annually in state and local sales taxes.
Where can I read the full Port of Everett 2026 budget? The Port published a Citizen Budget Guide at portofeverett.com/2026Budget.
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