Marquette, MI – (Great Lakes Radio News) – The Michigan Economic Development Corporation says the Michigan Strategic Fund has approved two community revitalization projects in downtown Marquette.
Officials say the projects will generate a total capital investment of at least $190 million, create 169 new jobs and retain 2,300 jobs.
The fund approved $55-point-7 million in local and school tax capture for the Marquette Brownfield Redevelopment Authority to redevelop approximately 37 acres of property in the city along Baraga Avenue for construction of the new Duke LifePoint Hospital.
The fund also approved a $4-point-1 million Michigan Community Revitalization loan for Liberty Way Hospitality, LLC for continued redevelopment of the former Taystee Bakery site along Washington Street.
The project is being redeveloped in three phases and will consist of three buildings including office, residential, restaurant and hotel space.
The project is expected to generate a total capital investment of nearly $20.4 million and create 19 jobs.