Marquette Brownfield Redevelopment Authority
The Veridea Group, LLC has developed a 150,000 square foot high-density, mixed-use center that will serve as a vibrant gateway into downtown Marquette. The project will tie into the adjoining city bike path/linear park and be designed to enhance the local neighborhood.
Importantly, this transformational development is anticipated to spur significant spin-off development of adjacent properties along the West Washington Street corridor, an underutilized area of downtown Marquette. The Veridea Group is a Marquette-based commercial real estate development firm with a 20 year track record of successful ventures throughout the Upper Peninsula.
The Marquette Brownfield Redevelopment Authority has marshaled the approval of a Brownfield Plan and Work Plan that will allow for significantly greater density on the site than would otherwise have been possible. With Brownfield support, the project will return over $11 million in property taxes over 30 years, as opposed to a much smaller conventional development that would return approximately $4 million over the same time period absent Brownfield support.