Portion of Former Golden Rule LLC property to be sold to Oaklawn Hospital

cclbaPress Releases

MARSHALL, Mich. — Calhoun County Treasurer Christine Schauer, City of Marshall officials, the Calhoun County Land Bank Authority and the Marshall Area Economic Development Alliance announced today the county is selling a portion of the Golden Rule LLC property in Marshall to Oaklawn Hospital.

“I am happy that this long-vacant, tax-foreclosed property will be put back into productive use,” Schauer said of the property commonly known as the former State Farm regional center property. “This sale will pave the way for further work on the north parcel to get it re-development ready, and I am appreciative of our community partners for working collaboratively to breathe life back into these properties.”

After interested buyers fell through at two separate auctions, the County Treasurer worked with MAEDA, the City of Marshall and the Land Bank to identify a buyer that would most benefit the community.

“This partnership furthers our shared goal to incentivize redevelopment in Marshall, and the sale to the hospital will benefit the public by reducing traffic and parking congestion in downtown,” said Scott Fleming, CEO of MAEDA. “We’re excited that Oaklawn Hospital plans to invest more than $150,000 in rehabilitation costs and return this building to productive use.”

Oaklawn Hospital will move some of its administrative office personnel into the south building on the property. These employees currently occupy a number of houses scattered around Marshall that have been converted into office spaces. Once the employees relocate, those houses could return to the tax rolls, which will help fund local schools, roads, public safety and programs for seniors and veterans. As a non-profit, the hospital is tax-exempt.

“This project has truly been a team effort, and we’re pleased to put it in the good hands of a partner that is already part of the Marshall community,” said Krista Trout-Edwards, Executive Director of the Calhoun County Land Bank Authority. “We’re looking forward to continuing the partnership with the City and MAEDA as we collectively work to create a viable redevelopment plan for the northern parcel.”

Together with the City, the Land Bank expects to hold community forums next year to get input on the north property. This property has been marketed for some time without success, and the structure will likely need to be demolished.

“This is a great day for the City of Marshall, and we’re excited that a satisfactory bid came in to put this property to good use,” said City of Marshall Mayor Jack Reed. “We’re pleased that the sale’s proceeds will allow the Land Bank to address a portion of the redevelopment needs of the north building, which will make it more attractive to prospective developers. The neighbors have waited a long time for something to be done with the property that fits within the neighborhood, such as housing. Everyone is looking forward to seeing this redevelopment project take shape.”

The property was owned by Golden Rule LLC of New Mexico when the property fell into tax delinquency. The 15-acre property has been vacant since April 2006 and was foreclosed on April 1 of this year. The foreclosed property includes two buildings, a 211,027-square-foot office building at 410 East Drive on the north side of the property, and a 41,591-square-foot industrial warehouse at 820 Mann Road on the south side of the property. Only the Mann Road building, along with parking lots, was included in the sale to Oaklawn Hospital.