MARQUETTE, Mich. (WJMN) – During a meeting of the Marquette City Commission on Monday, presentations were made, addressing the latest information related to the former hospital property on College Avenue.
We first shared details in October after an agreement was reached between the Northern Michigan University Foundation (NMUF) and UP Health System – Marquette to potentially make use of the former hospital property on College Avenue in Marquette.
Both parties have been in a due diligence period to determine if developing the property would be financially and practically feasible.
During Monday’s meeting David Nyberg with the NMU Foundation announced the estimated overall cost of the project would be $166 Million over seven years.
“The critical barrier for this of course is which was expected is the demolition of the existing buildings to prepare the site for redevelopment. Our team has received two quotes from teams that deal in heavy industrial demolition which narrowed our estimate to be about 15 million dollars. Which represents about nine percent of the total anticipated investment,” said Nyberg.
If, at the end of the evaluation period, the NMU Foundation does take possession of the property, they would not be the entity to develop the site. They would bring in an expert master developer.
Charles Robertson with EUA, an architecture firm, addressed Marquette City Commission and outlined potential uses for the property including addressing housing needs of the area.
“This is not a one size fits all approach. We think there should be opportunities that serve the entire spectrum that alleviates some of the housing issues in the city and region,” said Robertson.
To see the full presentations and comments. Monday’s full City Commission Meeting is available here.