Marina Square Wins Outstanding Economic Impact Project (Opp Zone)

BREMERTON, WA – For GlobeSt.com’s 2019 ADAPT awards, we credit the Marina Square project in Bremerton, WA as the top economic revitalization and social impact winner. We will be honoring the project at our awards ceremony in Baltimore on September 16^th. Marina Square is located in one of Washington State’s 139 Opportunity Zones. The project’s mission is to develop a project and investment platform that is not only economically sound and fills the greatest need for the city of Bremerton, WA, but also meets investor expectations while facilitating a positive social impact for the community. Prior to breaking ground in April 2019, the 2.2-acre space in the Seattle suburb was a surface parking lot. Situated on the Puget Sound waterfront, the project site overlooks Bremerton Marina, just 500 feet away from the Bremerton-to-Seattle Ferry Terminal, where the Kitsap Transit passenger-only fast ferry (a 28-minute crossing to Seattle) and Washington State Department of Transportation’s auto ferry operate. Sound West Group is transforming this space into a mixed-use waterfront development that includes hospitality, multifamily and paid parking. Upon completion, the Marina Square project will include a 125-room Cambria Hotel. The Cambria Hotel tower will feature a waterfront restaurant, bar, fitness center, market and conference center. The design will ensure every room includes a view of the water, marina and mountains. A separate, high-end 145-unit apartment tower will feature a variety of urban-living apartment flats, all with views and access to several community amenities. These include a rooftop deck, fitness center, private clubhouse, business center and lounge. A portion of the Marina Square housing will be affordable for the shipyard’s workforce. The hotel and apartment tower will sit atop a subterranean parking garage that has more than 380 spaces. The garage will have distinct levels that service the Cambria Hotel, private residences and marina. With the help of local general contractor Compass Construction, the project will connect the waterfront, boardwalk and marina together via its public square and plaza between the towers as well as a grand staircase to the beach and adjacent pier. The development team hopes to leverage the synergies between Marina Square’s waterfront location, the Port of Bremerton, the Bremerton Marina and the Kitsap Conference Center to increase economic activity in the city’s downtown core, while fulfilling the unmet housing need for local residents. Marina Square—which is slated for a May 2021 completion—will also complement Bremerton’s other new development and restoration activities. Four blocks away, Quincy Square, named for Quincy Jones, features the restored Roxy Theater and the repurposed Sears and Ford buildings, now called the B Flats apartments, plus restaurants and retail shops.

➤➤ Join your colleagues at the GlobeSt.com ADAPT: Opportunity Zones awards September 16th in Baltimore, MD, where we put a spotlight on the achievements of those who have had a hand in locating adaptive reuse solutions across the country. At the same time it is also focusing on Opportunity Zones and the potential they offer – for both adaptive reuse and new construction. Click here to register and view the agenda.