The City received offers to purchase the City-owned parcel of land located at 601 S. Lakeshore Blvd from the following parties:
- Marquette Opportunity, LLC - April 5, 2022 with reaffirmed interest in January 2023
- ABROS - November 21, 2022
- MCFCU - January 25, 2023
These proposals were consistent with the Community Master Plan Future Land Use Map and consistent with the RRC Certified City Economic Development Plan goal of improving and diversifying the tax base.
The City Manager, Assistant City Manager, and Community Development Director conducted interviews with the firms on April 4, 2023.
As a result of the evaluation process, the City Manager is recommending the City Commission adopt the attached Resolution of Intent to Sell, which will permit the City Manager to negotiate a potential sale of the property with Marquette Opportunity, LLC. Their intent for use of the property is the development and establishment of a hotel that will:
- Provide for an additional 28-30 FTE jobs, 22 of which are full-time.
- Utilize one proven management group from the existing hotel.
- Provide approximately $18 Million of taxable investment in the property.
The firm has also agreed to work with the City with regards to maintaining an appropriate buffer from the existing bike path, as well as provide community greenspace as an additional buffer that will be maintained by their firm. Additional details such as building height and placement are governed by the City Zoning ordinance and will be the responsibility of the City Planning Commission, in accordance with the Land Development Code, upon an appropriate rezoning of the property (currently zoned Municipal).