After its acquisition of the Viridian commercial office building on West Bay Shore Drive in Elmwood Township with Far Side Properties, Walstrom Marine is now assessing potential redevelopment plans for the waterfront property. The evaluation phase includes exploring the possibility of constructing a marina and other water-related infrastructure in response to regional demand for improved lake access.
While no final decisions have been made, discussions have touched on various ideas, including a full-service marina, residential options such as condominiums and a private marina. The scope of the project remains under consideration, with Walstrom and Far Side Properties continuing to consult with nearby property owners and community members.
The Grand Traverse area has experienced growing pressure on lake access. In response to this need, Walstrom Marine sees the potential development as a way to help ease demand.
General Manager Kyle Oleson of Walstrom Marine said: “Living and working in the Grand Traverse area, we know that lake access for boaters has reached a critical status. Folks are waiting upwards of a decade to get a slip. We want to be part of the solution.”
Tom Ervin, President of Walstrom Marine, highlighted both the complexity and the potential community value of the project. “Our team has been working on this project for nearly 18 months. Admittedly, it is a complex, challenging project, but seeing the positive impact it could have by meeting community needs and supporting the transformation of this immediate area, it’s definitely worth the effort. We are excited to see this project come to life.”
The Viridian building remains operational as a commercial office space during the planning phase. Future non-marina features of the project may involve partnerships with local developers, although those aspects are yet to be determined.
Walstrom Marine is working with a team of advisors, including architectural and engineering firms ProgressiveAE and Edgewater Resources, law firm Miller Johnson and local real estate advisor BJ Brick of Brick & Corbett/ReMax Bayshore.
Walstrom Marine has served Michigan’s boating community for over 75 years and currently operates dealerships in Harbor Springs, Bay Harbor, Charlevoix, Traverse City and Holland. The company also owns and operates marinas in Harbor Springs and Algonac, with a combined capacity of 526 boat slips.
