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The former Hydroponics business at 401 W. Washington St., in downtown Marquette, is coming down, piece by piece, to make way for a new 16,000 square foot multi-use facility. (Journal photo by Annie Lippert)

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MARQUETTE — Demolition is well underway at 401 W. Washington Street in downtown Marquette, clearing a long-idle site for a new mixed-use development.

According to InvestUP, the work will prepare the property for a 16,000 square foot building that will include integrated parking, two commercial spaces and 11 residential units. Nine of those units are planned for households earning at or below 120% of Area Median Income, adding needed attainable housing in a walkable part of the city.

Overall, the redevelopment will cost an estimated $4.3 million. Much of the financing comes from a $1.5 million Michigan Economic Development Corporation Revitalization and Placemaking investment which provides gap financing for place-based infrastructure development, real estate rehabilitation and development and public space improvements; and a $1.1 million loan through the state Brownfield authority law with funds to be repaid over 20 years under a tax incremental financing schedule.

Oversight partners include Build U.P., the city of Marquette, the Michigan State Housing and Development Authority, the Downtown Development Authority, UP State Bank and the Marquette County Land Bank. Ownership is split between Midwest Construction Group and 401 W. Washington LLC. The housing focus will be on workforce housing.

The project is another step in turning an underused downtown property into new housing, storefront space and everyday activity, stated InvestUP.