Deborah Bach has the story at Three Sheets Northwest:
It’s an ambitious project intended to serve boaters, reconnect Everett residents with the city’s waterfront and transform a former industrial area into a vibrant new neighborhood destination.
The $400 million Port Gardner Wharf project calls for a mix of condos, townhouses, office space, shops, restaurants, inns, a marine-related “Craftsmen District” and a network of walkways and other amenities in the city’s north marina area.
But what was set to become a waterfront jewel is now in limbo, after the project’s developer, Everett Maritime, filed for bankruptcy in late May. The move followed numerous delays and unsuccessful efforts by the developer to secure financing after Merrill Lynch Capital withdrew its funding for the project in late 2007.
“A project that began in the good times drifted its way into the poorer times,” Port Commissioner Connie Niva said. “It couldn’t have been a worse time.”
