Brownfield gives update on Marquette Vault project, old hospital demolition
MARQUETTE, Mich. (WLUC) - Planning is progressing for the Marquette Vault development.
A hotel, parking garage and housing are part of the plans for the old Savings Bank building and parking lots off Lakeshore Boulevard.
The Marquette City Commission approved a Brownfield Plan a year ago. The Brownfield Redevelopment Authority provided an update Thursday.
“Everything is moving along as planned. The current thought is that they are going to do the development in three phases,” City of Marquette Brownfield Redevelopment Authority Chair David Allen said.
Allen says the authority received a $495,000 grant to cover environmental screening from EGLE and up to a $1 million loan to help cover minimal demolition costs and some offsite construction.
The parking garage has an estimated cost of $8 million.
“First is there going to actually get the hotel itself, the old savings bank building itself ready to become the hotel that will be phase one and start this fall,” Allen said. “The second phase will be on the south side of the parking lot area, they will build the parking deck there and then the residences on the top of that then they will move to the north side of the lot and do the expansion of the hotel, which is also on the parking lot and then they will connect the parking lot underneath. It sounds to me like it’s about 36 months of construction from start to finish hopefully starting this fall.”
Allen says the project will improve parking availability and make downtown livelier.
“There are three different things to think about,” Allen said. “One there is going to be this public parking deck that will add a lot of parking for everyone in the city, that’s a public benefit that we’re excited about. In addition to that, having this hotel put in, and these residences put in, and the expanded hotel means it will make the downtown more vibrant.”
Meantime Allen says there are no new projects to announce yet, but he has been approached by developers looking to add affordable housing in Marquette.
On Thursday, the authority also provided an update on funding for the old hospital site.
The project is receiving $8 million in the new state budget for demolition, with more funding expected from the Michigan Economic Development Corporation. It will shorten the time the authority will have to pay back its investment by 10 years.
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