DTE Energy – Marysville, MI
CASE STUDY: Remediation and Redevelopment of Shuttered Coal-Fired Power Plant
Overview: Commercial Development Company, Inc. (CDC) purchased a historic power plant in Marysville, MI from DTE Energy in 2014. The 511 megawatt “Mighty Marysville” operated from 1922 until 2001 employing 250 people at its peak. Environmental Liability Transfer (ELT), a CDC affiliate company, agreed to indemnify DTE Energy from all future environmental concerns.
Marysville officials credit DTE with making sure it found a buyer that would have a 21st century vision for what riverfront property could be.
-- Crain's Detroit Business
Environmental Remediation: ELT developed a plan of action, per the seller’s request, which has been approved by the Michigan Department of Environmental Quality (DEQ) and is currently underway with abatement, demolition, and remedial actions required to complete that plan.
Economic Impact: Following demolition and remediation, a mixed-use development is planned for the waterfront property. The City of Marysville announced a vision for a “destination” development which includes a 100-room hotel, retail/office, restaurants, and marina with pedestrian walkways.
» Development Planning: City of Marysville Unveils Robust Waterfront Redevelopment Concept