MSF Projects

The Michigan Strategic Fund approved two projects for further development in Downtown Detroit on Tuesday.

The first project, known as Third and Grand, is a mixed-use retail and residential project located at Third Avenue and West Grand Boulevard. The $54.6 million development will feature 20,000 square feet of commercial space, parking and over 200 residential apartments. The project is receiving $2 million from the Michigan Community Revitalization Program and is expected to bring 55 new jobs related to retail and property management.

The second project will complete an infill development and rehabilitation of the Checker Cab building in the Corktown neighborhood, located across from the former Detroit Tigers baseball stadium. Trident Corktown LLC is planning to invest $43.8 million in this project to construct four mixed-use buildings with first floor retail space and upper floor residential. The project also plans on creating four multi-story townhome units. The project is also receiving $6.9 million from the Michigan Community Revitalization Program and is projected to generate a total capital investment of $43.8 million and create 50 jobs.

The MSF additionally approved grants for Saginaw to develop a farmers’ market downtown, for Grand Rapids to redevelop a property downtown, and two grants for the city of Owosso to establish a new animal feed mill facility and to rehabilitate a vacant and historic building for mixed-use purposes.

posted by PAA Online , Friday, September 30, 2016 9:38 AM
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