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Council approves land sale to Shaheen Development to advance downtown "Medical Diamond" plan
Summary
The Saginaw City Council approved a purchase and development agreement with Shaheen Development to advance a mixed‑use downtown project promoted as the "Medical Diamond." Developer Pete Shaheen said the project would total about $35 million; the city agreement does not specify a project cost.
The Saginaw City Council voted to approve a purchase and development agreement that clears the way for a mixed‑use downtown project promoted by Shaheen Development as the "Medical Diamond." Pete Shaheen, speaking for Shaheen Development, told the council the planned project would be a $35,000,000 mixed‑use development including health care, housing, restaurants and retail.
City staff and supporters said the agreement transfers several parcels on Washington Avenue to the developer and includes contractual protections the city can use if deliverables are not met. City Manager Tim Morales told the council the development agreement contains standard reconveyance and deliverable clauses to protect the city if a project does not proceed.
Supporters at the meeting framed the project as a long‑planned economic catalyst. Ken Horn, who said he manages growth strategy at the…
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