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EGLE grant helps revitalize contaminated site in the heart of downtown Marquette
December 06, 2022
A Brownfield Redevelopment Grant and Loan from the Department of Environment, Great Lakes, and Energy (EGLE) will help the city of Marquette and Marquette Vault, LLC redevelop a contaminated site in the heart of downtown.
Rendering of proposed Marquette Vault redevelopment project.
A boutique hotel, parking, commercial space and residential units are planned for the site when the remediation is complete.
The site is contaminated with petroleum-related compounds and metals. The brownfield grant will protect residents and visitors to the site by addressing existing contamination and making the site safe for reuse. The project site includes the historic State Savings Bank building and an adjacent parcel that currently serves as surface parking. Existing contamination is believed to have resulted from a rail line that existed from 1884-1917 and an automobile garage/service center that operated from 1946-1960.
The $495,000 brownfield redevelopment grant and $1 million loan will be used for environmental assessment, the transport and proper disposal of contaminated soil and groundwater, asbestos abatement, demolition, and the design and installation of a system to prevent harmful vapors from entering structures.
The planned redevelopment will consist of the renovation of the Savings Bank Building into a boutique hotel and the construction of an approximately 70,000-square-foot building to include additional hotel rooms, commercial space, residential units, and a 200-space public parking facility. Capital investment in the project is estimated at $22,000,000. The project will create 10 full-time and 40 part-time jobs. The current state equalized value of the property is $385,039 and is expected to increase to $11 million following redevelopment.
- State Equalized Value increase from $385,000 to $11,000,000
- $22,000,000 in private investment
- 10 new full-time and 40 new part-time jobs
- Contaminated soil will be removed and properly disposed of in a landfill
- A barrier beneath the buildings will eliminate potential exposure to contamination