The House of Bargains building located at 567 Ashmun in Sault Ste. Marie will be carefully deconstructed due to safety concerns that could impact the surrounding community and operations of the canal which fuels Cloverland Electric Cooperative’s hydroelectric plant. Cloverland has owned the property since 2016 and conducted extensive research and analysis on potential redevelopment options.
“Ultimately, the costs to preserve the building, estimated to cost between $10,000,000 and $18,000,000, were too immense for the cooperative to justify to our membership of 34,000 across the Eastern Upper Peninsula,” said Cloverland Electric’s President and CEO Mike Heise.
Cloverland extensively explored options for funding through state entities. The cooperative will retain the property for access to the canal for ongoing required maintenance and will work with the City of Sault Ste. Marie to explore options regarding repurposing the site. Hydroelectricity is a key factor in keeping the cooperative’s rates among the lowest for electric utilities in Michigan. Cloverland’s hydroelectric plant generates nearly 30% of renewable energy for the cooperative’s 34,000 members across the Eastern Upper Peninsula. Continual maintenance of the power canal and hydroelectric plant is a vital part of Cloverland’s infrastructure.