The State Savings Bank in downtown Marquette.
What's happening: The State Savings Bank building, located in the heart of downtown Marquette, is receiving a $495,000 brownfield redevelopment grant and a $1 million loan from Michigan Department of Environment, Great Lakes, and Energy (EGLE), which will help construct a new commercial space, residential space and public parking.
What it is: The plan will help pay for environmental costs, select demolition and treating asbestos. After hosting an automobile garage and service center in the past, the soil and groundwater have been contaminated with pollutants. The plan will include barriers beneath the new construction to prevent any further exposure to subsurface contamination.
Once finished with the environmental redevelopment, the building will include a boutique hotel, 70,000 square feet of additional development for commercial space and residential units and 200 parking spaces. It is expected that the project will create 10 full-full time jobs, 40 part-time jobs and an increase of $10.5 million for taxable value.
What they're saying: “As a homeowner a few blocks from the site, I’m thrilled to see this magnificent, historic building anchoring such an important development in the heart of Marquette’s downtown,” said David Allen, chair of the Marquette Brownfield Redevelopment Authority. “I’m proud to see this partnership between the city of Marquette, the State of Michigan, and private developers coming closer to fruition.”
How did this start: More than $2 million in brownfield grants have been awarded through EGLE, which will be used for redevelopment of contaminated properties in Northern Michigan and the Upper Peninsula. Overall, in 2022 EGLE will provide $20.7 million in brownfield funding to 67 projects statewide.
What does this mean: Studies provided by EGLE and the former Department of Environmental Quality show that when brownfields are redeveloped, property values increased for the surrounding area. Numerous brownfield projects in Marquette have helped renovate previous areas thought to be too poisonous to renovate, like the former train roundhouse property that now is home to the UPHP-Marquette hospital while housing and business opportunities have been built near the lake where former iron ore pellets used to rest.