Michigan State Land Bank Authority acquires nine acres in Benzie County to advance waterfront redevelopment by leveraging Land Bank resources

LANSING, Mich. — Last week, the Michigan State Land Bank Authority (SLBA) acquired approximately nine acres of property in the Village of Elberta located in Benzie County, marking a significant milestone in a collaborative effort to enhance the community and preserve public spaces. The acquisition stems from a unique partnership with the Grand Traverse Regional Land Conservancy and the Village of Elberta that will extend the Betsie Valley Trail through the site, offering the trail’s first connection to Lake Michigan. Additionally, a portion of the property’s sale proceeds will be dedicated to an endowment for maintaining public spaces in the Village of Elberta.

“This project is a testament to the power of collaboration,” said Joseph Rivet, Director of the Michigan State Land Bank Authority. “We are proud to work alongside the Grand Traverse Regional Land Conservancy and the Village of Elberta to create a transformative development that will benefit the Benzie community for generations to come. By revitalizing this property, we’re unlocking opportunities for growth, recreation and connection for the entire community.”

The SLBA will leverage its expertise and resources to redevelop this waterfront property on Lake Betsie. This initiative supports the Grand Traverse Regional Land Conservancy’s mission to protect natural spaces, allowing them to acquire a larger tract of land in Elberta for conservation. 

The SLBA will engage with the community, the Village of Elberta and the conservancy to shape a shared vision for the project. By applying economic development tools and engaging the development community, the SLBA aims to optimize the redevelopment’s value for both Elberta and the surrounding region.

“This project represents a unique opportunity to fuse conservation and economic development, assuring the long-awaited growth of the Village of Elberta and preserving its natural beauty for future generations,” said Jen Wilkins, Village of Elberta President “This partnership is an example of the good we can do when we work together to provide our residents and visitors with accessible public spaces.”

To learn more about available properties, Michigan State Land Bank Authority projects and opportunities with developers, local government, residents and more, visit Michigan.gov/LandBank.