The old Sears building that was once tabbed for a boutique hotel has a new buyer, Joseph Daly, who says he will transform the downtown eyesore into a mixed-use project.
The Wyandotte City Council voted to sell the building, located at 3061 and 3063 Biddle Avenue, to a Roebuck Residential, a limited liability company Daly, a well-known Wyandotte developer, The News Herald reports.
The sale price was $350,000, the same amount the Downtown Development Authority agreed on when hoteliers Ken and Rebecca Wickenheiser were interested in the property. Their plan to build a boutique hotel, similar to the couple’s Hotel Sterling in Monroe, fell through.
The DDA has been working on various deals to redevelop the old Sears building for two years and had secured $458,000 in grant pledges from the Michigan Economic Development Corp. to offset costs.
When the hotel deal fell through, the state money was at risk. That’s when city officials reached out to Daly Real Estate.
The redeveloped property will feature both residential and commercial components.The DDA acquired the property for $500,000 in 2012 after more than a year of negotiations with the former owners Michael Bozenski and Gary Lamb.