In Detroit, Plaza del Norte, LLC will use a $391,127 credit totransform blighted, tax-reverted property located on Bagley Avenuenear 20th Street in southwest Detroit. Less than 500 feet from theAmbassador Bridge, the redevelopment will house the State ofMichigan International Welcome Center and a small businessincubator. The project is expected to create more than $3.9 millionin private investment and 63 new jobs. The Ambassador Bridgeconnects Detroit and Windsor, ON.
"The value gained by redeveloping brownfield sites cannot beoverstated," says Jennifer Granholm. "Turning around blightedproperties that were once thought too costly to redevelop willbring the economic development and jobs we need in Michigan."
Brownfield SBT credits valued at a total of nearly $2 millionwere warded to the Detroit project as well as the followingprojects:
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
