MICHIGAN CITY, Ind. -- Michigan City announced Thursday that the Michigan City Redevelopment Commission has voted to deny more extensions to the estimated $300 million SOLA development agreement.

The agreement will expire on Dec. 31.

This comes after almost five years of negotiations, amendments, and extensions, according to city officials.

Officials say the SOLA project's proposed site was the former You Are Beautiful site.

The proposed multi-use development's most recent extension came in 2024 when city officials say they recognized the complexity of large-scale development and broader market challenges.

“From the outset, our goal has been to see this site successfully redeveloped in a way that benefits Michigan City residents,” said Mayor Angie Nelson Deuitch. “The City and RDC devoted significant time, staff capacity, and resources to support this project over several years. Ultimately, however, development agreements must be guided by clear milestones and the ability to reach financial close.”

City officials say since 2020, the city has executed multiple development agreements and amendments at the developer’s request.

The city says each came with clearly defined expectations and deadlines, which were ultimately not met.