DEDA Approves Development Agreement to Demolish Former Seaway for Potential New Apartment Building
DULUTH, Minn. -A potential new apartment building may be replacing the former Seaway Hotel in Duluth’s Lincoln Park neighborhood.
On Wednesday, the Duluth Economic Development Authority approved a development agreement for the proposed 45-unit mixed-use apartment building.
Merge LLC says the construction would cost roughly $9.25 million and would offer commercial space on the ground level of the building.
As part of the agreement, DEDA would offer a little over $1 million in tax-increment financing which would be in place for 26 years.
The Duluth City Council will now need to approve the development agreement before moving the project ahead