The incentives will help redevelop functionally obsolete andblighted property located within the 1000 block of Woodward inCentral Detroit. The developers will demolish vacant buildings tomake way for a new multi-level parking structure featuring up to18,000 sf of retail space on the first floor. The project includesthe upgrading of an adjacent 21-story office building located atthe northwest corner of Campus Martius and the conversion of theupper floors into residential condominiums.

The new development is expected to create up to 400 new jobs andgenerate more than $50.5 million in private investment, the statesays.

Elsewhere, the River Pointe Development Co. Limited Partnershipwill redevelop a seven-acre former mobile home park located at14630 Riverside Blvd. The developer plans to build a combination oflow- and mid-rise buildings to accommodate about 300 market-rateresidential units. The development will also feature boat slipsalong a canal bordering the property. The project is expected togenerate more than $56 million in private investment, the statesays.