The project will bring 66,000-sf of new retail and services, almost $9 million in new investment and create directly and indirectly nearly 400 new jobs in the city, demonstrating how community development can work successfully in Detroit, said coalition officials.
Two grants were given to the project totaling $51,500 from the Detroit Local Initiatives Support Corp. commercial development program. Additional funding was also found, including tax increment financing reimbursement, single business tax credits and a federal grant totaling $574,000. Also, the project earned a brownfield designation from the city's Brownfield Redevelopment Authority.
Details of Phase I of the project from Mack Alter LLC local developers Mike Curis and Mark Thomas include Detroit's first 'WOW' store, due to open in the fall. Owned by the Atlas Oil Co., it targets the fast-paced world of today's consumers looking for one-stop shopping. The coalition and its subsidiary, Eastside LAND Inc., are involved in a variety of commercial redevelopment projects within the Warren/Conner community.
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