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Author: Admin | 2025-04-28
No down payment was required, and Reserve paid the cost of installing utilities, landscaping, street paving, and sidewalks. At first, only Reserve employees were allowed to purchase the homes.On May 1, 1954, it was announced that Reserve’s new town on the shore would be called Silver Bay. Until that time, the city was known as the Beaver Bay housing project. One of the first houses in town became the post office, and Silver Bay was issued its own mail cancelling stamp.1956 was a banner year for Silver Bay. The last of 6 pelletizing machines was fired up in February, and the first shipment of pellets went out on the C. L. Austin in April. Campton Elementary School was dedicated on March 11 thereby eliminating the overcrowding in the small two-room school in Beaver Bay. The $350 million Reserve plant was officially dedicated on September 3 and was renamed the E. W. Davis Works. On October 16, Silver Bay voted to incorporate with a mayor-council form of government.In 1958, William Kelley High School, named for Reserve’s first president, was opened eliminating the long 28-mile bus ride to Two Harbors. That same year, Reserve announced that it was selling its shopping centers in Babbitt and Silver Bay to J. W. Galbraith. Silver Bay’s shopping center was once heralded in the Duluth News Tribune as “expected to be the largest on the North Shore north of Duluth.”The 1960’s brought a second wave of construction when in April 1960, Reserve announced it was expanding
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