Michigan Strategic Fund Approved Support for Redevelopment in Downtown Marquette

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Michigan Strategic Fund approved redevelopment project in downtown MarquetteMARQUETTE, MI – (Great Lakes Radio News)The Michigan Strategic Fund has approved state support for a major redevelopment project in downtown Marquette.

The project at site of the former Sara Lee Bakery on West Washington Street is planned to feature a 150,000 square foot high-density, mixed-use center that will serve as a gateway into downtown Marquette.

The developer, Veridea Group, LLC, plans to tie into the adjoining city bike path/linear park and also design the property to enhance the local neighborhood.

In conjunction with the Marquette Brownfield Redevelopment Authority, the Michigan Strategic Fund has approved reimbursement of extraordinary development costs through additional taxes generated by substantial increased private investment.

In addition, the MSF Board approved loan participation in the plan under its new Community Revitalization Program.

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