DEDA Selects Developer for Lot D
City Entered into Agreement with Same Firm that Developed Pier B Resort
DULUTH, Minn. – The City of Duluth is ready to move forward in its waterfront development.
“Lot D” is the last piece of mixed use real estate available for redevelopment on the waterfront, a process now closer to fruition.
“This waterfront has been waiting 150 years for a vision like this,” said Mayor Emily Larson. “It will combine housing with retail with public space.”
The Duluth Economic Development Authority (DEDA) asked more than 100 developers for proposals last Spring. In return, DEDA got three proposals, one of which was immediately eliminated.
“The Duluth market is prime for this type of opportunity,” said Heather Rand, DEDA Executive Director.
The city chose the proposal submitted by Hoff–Guiliani, the same developer responsible for the new Pier B resort.
“We believe this is another diamond in the rough, like the Pier B site was,” said Sandy Hoff of Hoff-Giuliani.
Rather than having Hoff-Giuliani immediately buy the property, the parties signed an option agreement, which gives the firm 12 months to do due diligence on the site.
“It does mean that they will be spending, certainly, some considerable dollars as they explore those options,” said Rand. “We are grateful for them, because that’s taking on a great risk.”
The city chose Hoff–Giuliani, because the city and firm had a positive experience in developing Pier B.
“This is a unique opportunity, it will not be without significant challenge to create the feasibility,” said Hoff. “We understand that, but we have a great working partnership with DEDA and the city of Duluth.”
City officials are optimistic, but know there’s a lot of work to be done.
“These are very complicated sites,” said Mayor Larson. “As it’s been described, there are contamination issues, there are seawall issues. There’s a variety of things that make this the kind of project that brings a set of challenges that are really amazing opportunities for our community.”
The proposal needs to be officially approved by the DEDA board at their meeting March 22nd.
