The parcel has 12 acres of developable land with 1,500 feet of lake frontage and is zoned as mixed-use waterfront. The preferred concept proposal includes a mixture of commercial use, retail, some housing, and is “meant to be a waterfront destination venue with family friendly attractions,” according to a news release from the city of Duluth.
DEDA issued a request for proposals in spring 2016. A review committee felt the Hoff-Giuliani team best represented the objectives laid out in the RFP.
DEDA Commissioners will be presented with an option agreement at their March 22 meeting for review and approval. The agreement lists milestones and enables temporary property access for the development team to conduct its due diligence over the next year and explore geotechnical issues, site opportunities and challenges to ensure financial feasibility of elements in the proposal. Following this phase, the developer could return to DEDA and pursue a development agreement to officially purchase the property, assuming conditions are met.
