MARQUETTE, MI— Nearly $1.5 million in funding has been awarded by the state to mitigate contamination at Marquette’s State Savings Bank property.
The city, Marquette Vault LLC, and the Department of Environment, Great Lakes and Energy have partnered to create commercial, residential, and parking spaces.
A $495,000 brownfield redevelopment grant and a $1 million loan from EGLE will pay for environmental costs, select demolition and asbestos abatement. Contaminated soil and groundwater will be properly disposed of and barriers beneath the new construction installed to prevent potential exposure to subsurface contamination.
After the site is rendered safe for use, Marquette Vault plans to turn the bank into a boutique hotel.
Historically, the site contained a rail line and an auto garage and service center.