Local group shows more interest in Marina District

There are new details about the deal between the city of Toledo and a Chinese investment group looking to purchase the Marina District.

Now a local investment group also wants to get involved in that deal.

The Toledo Community Investment Corporation once hoped to get the Marina District for themselves, but now wants to team up with the Dashing Pacific group.

According to reports, the investment corporation sent a letter to the mayor on May 3rd offering $7.5 million for the property, more than double what the Chinese investment firm offered for the prime piece of real estate along the Maumee River.

"We TMre looking to use cutting edge technology stimulating the visual and auditory senses," said Toledo Community Investment President Thomas Sheehan.It TMs going to be a very hands-on and interactive type of facility," he said.

But Sheehan says he has not heard anything from Mayor Mike Bell or anyone from One Government Center.

"I have not seen any specific plans from Dashing Pacific, and we've not met with them because we're trying to do so through Mayor Bell, he said.

The mayor just returned from a nine-day whirlwind trip through China and says he's not interested in any other Marina District offers.

"We haven't seen a plan like this come across at my desk where someone is not only proposing to buy the land, but they're also proposing to put $200 to $300 million worth of investments on a land," said Bell.

Although Sheehan appears to be out of the picture right now, he's still staying optimistic.

"I can see nothing but good things by having a Chinese contingent in Toledo," he said.

The mayor is not planning to ask Toledo City Council for a vote on the deal with Dashing Pacific on Tuesday, but he is planning to discuss the project.

City officials say if the deal with Dashing Pacific is approved there is no set date on when construction will start.

What are your thoughts on the Marina District deal? Leave your comments.

close video ad
Unmutetoggle ad audio on off