SOURCE: Dargey Enterprises

Dargey Enterprises

September 23, 2009 08:00 ET

Everett's New Potala Village Development Offers Peace and Harmony

Landmark Groundbreaking of First BUILT GREEN Building in Snohomish County

EVERETT, WA--(Marketwire - September 23, 2009) - Dargey Enterprises will break ground today on Potala Village, a multistory mixed-use building with 108 three star green built apartments and 15,000+ square feet of retail and restaurant space. The Potala Village project is valued at $19.8 Million and is located at 3030 Rucker Ave. in downtown Everett.

Potala Village is named after the Potala Palace in Tibet, built in 637 AD. It is the greatest monumental structure in all of Tibet, and was the home for several Dali Lamas throughout centuries. Everett's Potala Village will be a structure to symbolize peace and harmony, in addition to a place of sanctuary for many generations. The four-story building is a mix of studio and one and two bedroom apartments. The building's prime, ground floor commercial space is suitable for a large sit-down restaurant, fast and casual eatery, and a coffee shop. The new complex will serve as a magnet of activity in the heart of the bustling downtown area. It provides easy access for pedestrian and vehicle traffic, and is in close proximity to various desirable amenities.

"Our goal is to become one of the Northwest's premier developers and we pride ourselves on being honest, having integrity and building excellent relationships," said Lobsang Dargey of Dargey Enterprises. "It is an honor to break ground on Potala Village in Everett with a backdrop of the great views, community and downtown area bursting with growth potential. Everett is a beautiful city and is a very desirable location for people to live, to work to raise a family."

The groundbreaking ceremony will take place at 11:00 a.m. on Wednesday, September 23 at the site of Potala Village, 3030 Rucker Ave. As a tribute to Lobsang Dargey's Tibetan roots, the ground will be blessed by Tibetan monk, Tulku Yeshi Rinpoche, followed by speeches from Mayor Ray Stephanson, Pam Stewart of Synergy Construction, a representative from the regional HUD office and the groundbreaking will be concluded with a speech from Mr. Dargey.

"We are pleased that Mr. Dargey has chosen Everett for this exciting community investment," Everett Mayor Ray Stephanson said. "Not only will this project change the Everett skyline and help beautify the neighborhood, it does so in a way that is beneficial to our urban environment."

This significant groundbreaking establishes Potala Village as the first Built Green building to be developed in Snohomish County. Built Green, a program of the Master Builders Association of King and Snohomish Counties, strives to promote environmentally friendly home building methods and practices, and enhances communities through leadership in sustainable development. Built Green buildings are designed to provide comfortable, durable and environmentally friendly structures that are cost-effective to own and operate. Built Green certified buildings are resource-efficient and are crafted to exceed building codes and provide years of healthy, quality living, while protecting the Northwest environment.

For more information on apartment leases, contact: info@dargeyenterprises.com or 425.304.1000. For information regarding commercial leasing, contact: Constance Wilde or Anne Marie Koehler, 206.292.1600.

About Dargey Enterprises:

Dargey Enterprises (www.DargeyEnterprises.com) is a real estate development company founded by Lobsang Dargey, focused on commercial projects that enhance and strengthen neighborhoods and communities. Dargey Enterprises has been in the real estate business since 2005 and are one of the fastest growing businesses in the Northwest. Dargey Enterprises currently has a $80 million real estate portfolio. Other projects include development of Potala Village West Seattle and Potala Village Greenwood, renovation of the Cogswell College Building in Everett, renovation of the Everett Public Market and renovation of the 40,000 square foot late Boeing B-29 bomber facility in Everett, home to restaurants, salons, galleries, an organic grocery store and water view luxury office spaces.

Dargey Enterprises has extensive development and property management experience in the following areas: Multi-family, Multi-use, Professional Office, Light & Heavy Industrial, Medical, Shopping Centers, Retail, Restaurants, Hotel and Senior Living.