Marina Square, a new mixed-use waterfront development in Bremerton, has been awarded GlobeSt.com’s 2019 ADAPT Award for top economic revitalization and social impact project.
The new development is located in one of Washington’s 139 Opportunity Zones. The project not only meets investor needs, but also creates a positive social impact for the community as a former 2.2 acre parking lot along the waterfront is transformed into a project that features a new hotel, apartments, restaurants and shops as well as a new connection to the city’s boardwalk.
When completed, Marina Square will feature a 125-room Cambria Hotel, a separate 145-room apartment tower with rooftop deck and private clubhouse, and parking underground for more than 380 cars. The new development is adjacent to the city’s conference center complex, restaurants and the Washington State and Kitsap ferries.
Marina Square is one of the first examples of new investment opportunities made possible through Opportunity Zones, which were created by the federal government to spur investment in community projects.