It’s taken the City of Marquette most of this decade to reach this point with Founders Landing.
But the waterfront land is two-thirds of the way to being sold.
The city, and the Landing Development Group, have closed on Founders Landing Parcel 3.
They signed the sale contract this afternoon at City Hall and transferred the deed.
The Landing Development Group paid about $1.5 million.
Both sides say they’re happy and relieved.
Marquette Mayor John Kivela says they didn’t want to put all the property out there for sale all at once, but he’s pleased because this was the most-sought-after parcel.
The City Commission bought Founders Landing in 2002.
This is their third attempt to sell it.
The Landing Development Group is planning mixed uses for the area, including a hotel, offices and condos, while keeping public space available.
Barry Polzin is one of the partners in the Landing Development Group.
He says they already have a hotelier in mind to work with and says there’s been more interest in Parcel 1 — where construction has been underway for a few months — than anyone in the group thought.
Kivela says shortly after Election Day, when the new City Commission takes office, he expects they’ll start asking for development proposals for Parcel 2.
That’s the only piece the city still owns.