Continental will use the land — adjacent to ProMedica Toledo and Toledo Children’s Hospitals — for housing and retail development. The project twill complement the Metroparks of the Toledo Area’s plans to build a riverfront park.
Toledo-based ProMedica in 2016 purchased roughly 70 acres of land in the Marina District with plans to sell a significant portion of the property to the Metroparks. After the city approved the plan, it held public meetings to gather community input on how to best use the rest of the property.
“ProMedica’s plan from the beginning was to serve as a catalyst and short-term investor to help ensure that this property would be developed appropriately in the best interests of our community, and align with the downtown master plan,” Randy Oostra, ProMedica president and CEO, said in a statement. “We are excited about this collaboration and look forward to seeing the Marina District transformed into a vibrant waterfront destination for Toledo-area residents and tourists.”
Continental has proposed to use the land to develop a mix of retail, market-rate apartments, restaurants and a hotel. It will also partner with ProMedica to build a senior living facility.
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