The project is expected to spur more than $5 million in private investment. Elswhere in the city, Thor Gallery Warren Conner, LLC will use a $738,600 credit to rehabilitate a 146,000-sf, blighted open-air shopping center at the intersection of Warren and Conner avenues. The project is expected to spur more than $7.3 million in private investment and create 150 new jobs.
"Brownfield sites have traditionally been burdensome and expensive to redevelop," says Don Jakeway, president and chief executive officer of the Michigan Economic Development Corp., which administers the state's brownfield efforts. "Michigan has overcome this stigma by partnering with communities statewide to help transform hundreds of unused properties into engines of growth."
While announcing the two projects, Jakeway adds a $200,000 credit has been awarded to Talon Homes-Pleasant Ridge, LLC to develop contaminated property located at 24000 Woodward Ave. in Pleasant Ridge into brownstone condominium units. The project is expected to spur more than $2 million in private investment.
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