SALINE, MI – A development deal that could have brought a marijuana dispensary to a city lot off East Michigan Avenue in Saline is dead.
Developers with Michigan marijuana giant Lume Cannabis Co. terminated a $1-million agreement to buy the 6.5-acre property in a city business park next to Zippy Auto Wash, officials announced during a City Council meeting on Monday, Jan. 23.
“They did not feel the lot was economically feasible for them any longer,” Saline City Manager Colleen O’Toole said.
Developers initially imagined the project would include a new building for the Lume dispensary, as well as additional mixed-use development toward the rear of the property. But due diligence assessments showed challenges for that part of the lot, O’Toole said.
“It’s not impossible, but certainly adds to the financial equation,” she said.
City leaders inked the purchase and development agreement with an affiliate of Lume in April 2022, just a month after passing rules opening the city up to recreational marijuana shops and other developments.
The $1-million sale price for Lot 20A of the Sauk Trail Business Park surpassed the $817,500 asking price, according to a real estate listing at the time.