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Once an example of economic revitalization in Everett, the site of an ominous gray building towering above State Route 526 hasn’t been much more than a construction zone recently.

Originally the Olympic Boat Center, Breakwater Marine took over at 8407 Broadway in 2011, after the previous business bankruptcy in 2008. There were high hopes for Breakwater, with Everett Mayor Ray Stephanson telling that two things signify an improving economy: motorhome sales and an increase in boating.

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But the dream of boat sales at the location didn’t last. The reports the former 8,300-square-foot building was demolished in June of 2015.

The days of a vacant lot will be over when construction is complete in the near future of a new, four-story self-storage business opens. The site will be filled by a 48,160-square-foot building, according to city documents. The project is being funded by a Kirkland-based business man.

When the transformation is complete, the 2.4-acre site will sit on a landscaped perimeter. The project was originally expected to take seven months.