The location at the corner of Capitol and Allegan will help solve a longstanding parking problem in the Downtown area. The nine-level parking garage will provide space for 1,450 vehicles.
The first floor of the new office building, with about 18,000-sf of the building's 300,000-sf total area, will be devoted to retail development. The building is expected to accommodate more than 500 Downtown workers.
A brownfield credit of $5.5 million was approved by the state for the project. Also, the city received $5 million for the project from the state's Core Communities Fund. The city will buy the property, and will lease it to the Boji Group. The company purchased the former Michigan National Tower in 1998, and the parking structure will help alleviate parking concerns for the new tenants.
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