Delayed Lincoln Park Housing Project Finds New Lender
Merge Development now plans to complete the apartment building this summer.
DULUTH, Minn. – The developer of a delayed housing project in Duluth told FOX 21 on Friday that he has found a new lender to get the job done this summer after significant delays.
Urbane 218, as it is being dubbed, is located at 2011 W. Superior Street in the Lincoln Park neighborhood.
Rendering of Urbane 218
The site, which used to house the Seaway Hotel, has been mostly sitting still since August 2023, other than some insulating work in November.
Brent Dahlstrom, of Merge Development, says the company had been waiting for final funding through the Local Initiatives Support Corporation (LISC). But now, Dahlstrom says Merge is “closing with a different lender.”
Dahlstrom says the apartment building will be completed by the end of the summer.
This comes as the Duluth Economic Development Authority (DEDA) has agreed to a 12-month extension of its tax increment financing package for the project.
