Time has run out for completing an agreement to move forward on a proposed development for Ypsilanti's Water Street property.

89.1 WEMU's Lisa Barry reports a top Ypsilanti city official is saying the proposed International Village development will not take place.

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City of Ypsilanti Economic and Development Director Beth Ernat says, at this point, the International Village development will not proceed to a development agreement as originally proposed.

"There’s no path to getting to a development agreement by the December 31st deadline," says Ernat.

She says it's not possible to close the deal at this point as the development team has "unraveled,” and there is no final plan.

She says she anticipates putting the property back on the market and says there has been steady interest in it, but adds it will be difficult to develop because of its environmental contamination and lack of utilities.

As the city's economic and development director, Ernat says the city didn't lose any money on the failed project and is open to dealing the with the same development team in the future if they have another idea.

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— Lisa Barry is the host of All Things Considered on WEMU. You can contact Lisa at 734.487.3363, on Twitter @LisaWEMU, or email her at lbarryma@emich.edu