Washington Avenue Property Sale

Washington Avenue Property Sale

Port sells parking lot near Bremerton Marina to Sound West Group

Date: Jul 2, 2018
The Port recently approved the sale of the two-acre parking lot on Washington Avenue in Bremerton to the local firm, Sound West Group. View a rendering of the prospective hotel and other amenities to come to the new marina square.

During the Commission meeting on May 22, the Port unanimously approved the sale of the Washington Avenue property adjacent to the Bremerton Marina to the local firm, Sound West Group for $4.5 million dollars. The property is a two-acre parking lot on which Sound West Group plans to build a hotel structure that will include apartments and space for retail shops along with a tri-level parking garage which the Port has secured space to maintain marina tenant parking. 

The proceeds from the sale will go to pay off the bond from the original purchase of the property, and the capital gains made from holding the property will be used towards the purchase of the parking stalls for marina tenants.  

“We are pleased to have sold this wonderful downtown waterfront property to the Sound West Group.  If the plans move ahead as expected, the property will house a new hotel, a new downtown apartment, and underground parking.  All of which will help support our 350 slip, world-class marina. This project should be a win-win for the Port, the City, and the Developer.  It should also create many new jobs in the downtown core.”  - Cary Bozeman, Port Commissioner

The Port Commissioners approval for the original purchase of this property in 2009 was to secure parking for the marina tenants. The sale to Sound West Group will continue to preserve that parking which remains a priority for the Port.  Some details and benefits of the project as it is stated today, include the following in the current design:

  • 122 Hotel rooms, 23 extended stay rooms, 179 apartments, restaurant and bar, and possible retail.
  • Parking to include 360 to 390 stalls.  75 stalls for marina parking.
  • $100 million plus in construction alone.
  • Jobs and sales revenue of the new property will bring people to the downtown area and liven the Bremerton waterfront.

For more information on the property and sale, view these recent Kitsap Sun articles: