Houghton -
Back to more current stuff... jumping over to Houghton for the first time on this thread -
Houghton Lakeshore Drive Redevelopment
After unveiling this proposed redevelopment for a large, aging parking deck
situated along Houghton's Portage Lake Canal waterfront just three weeks ago, now the developer (Veridea Group - Marquette) is pulling out. The $40 million+ investment would include a 5-story hotel, retail and office space, conference facilities, apartments, and condominiums.
Wednesday night, at a special city council work session focused on the project, the developer announced it is officially withdrawing. Reading the article, the developer is clearly frustrated with the city's process (or lack thereof), and the associated dissent from the public's consumption of disinformation about the project (aside, this really seems to be a common theme in many of the failed northern Michigan proposals I have been discovering as of late). But it really seems to me like this project is not officially dead. It sounds more like the developer is playing hard ball with the city, in order to strong arm them into allying themselves more with the development team. As the developer notes, they have already invested hundreds of thousands of dollars into the preliminary efforts to get the site redeveloped.
It's not easy being a developer - anywhere. I sympathize with them. It seems especially difficult to promote change in the upper portion of the state right now. This will be an interesting one to follow.
Quote:
Square One: Veridea Exits Houghton Development Project
Keweenaw Report | Local Local News Staff
January 07, 2021
The Houghton Lakeshore Drive redevelopment project is back to step one. Last night, the Veridea Group of Marquette, which had been selected as the city’s development partner, officially withdrew. City Manager Eric Waara read the company’s letter at the beginning of a special city council work session devoted to the project…
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Quote:
Houghton Lakeshore Drive Proposal Revealed
Keweenaw Report | Local Local News Staff
December 16, 2020
The Houghton waterfront could someday include a hotel, retail and office space, conference facilities, apartments and condominiums. The vision for the future of the property currently devoted to parking was unveiled by the Veridea Group of Marquette last night, at a joint meeting of the Houghton city council, planning commission, and Downtown Development Authority...
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Source:
Keweenaw Report | City of Houghton