Demolition of the city's defunct pulp mill is expected to begin within a few weeks.
More than 200 workers lost their jobs when Fraser Paper closed its doors in May, silencing the mill that had been the city's focal point for more than a century.
On Tuesday, North American Dismantling Corp. of Michigan announced it has bought the 121-acre site and will spend the next year demolishing the property.
The clearing of the site will allow new development in a struggling city, said city manager Pat MacQueen.
When the buildings come down, you will be amazed what it looks like," North American President Rick Marcicki said. "We can see what's going to be here after it's down, and it's beautiful."
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