The State Lands Commission is out with another RFP for one of the last undeveloped bits of B'game Bayfront (about 1,000') that has been idle since the boundaries were settled in 1972.  All you moneybags can access the official State page here.  The Daily Journal has a piece on the history and possibilities for the parcel.  In it, Mayor Donna Colson notes

For her part, Colson said she is intrigued by the opportunity to keep a majority of the land open while occupying some of it with a boutique hotel which could bolster the city’s tourism industry.  “We still think there is enough capacity to handle a small, high-end boutique hotel that would have a restaurant and other amenities that would be nice for the public,” she said.

She noted the city’s current hotel room vacancy rate is extremely low, and that interest in the adjacent area will likely be sparked with construction of the new Facebook building which could accommodate roughly 3,500 workers.

We've watched this piece with some concern for a long time since "nature abhors a vacuum" and in this case the vacuum has been filled by trash as noted here.  The SLC noted

On November 26, 2001, following market exposure to 1,100  prospective developers, the Commission received only one proposal.  Since 1995, the site has remained unleased and has been intermittently maintained as needed. The Commission has expended most of the $200,000 in settlement money received from RTC to market the site, demolish derelict storage buildings, install fencing and concrete barricades, and remove trash, debris, and vegetative overgrowth.

Those days are probably coming to an end with the development pressure and profit potential of a parcel that large.  Getting to and from the lot hasn't gotten any easier and probably won't for a long time, but when has that ever stopped anything?