In Detroit, Plaza del Norte, LLC will use a $391,127 credit to transform blighted, tax-reverted property located on Bagley Avenue near 20th Street in southwest Detroit. Less than 500 feet from the Ambassador Bridge, the redevelopment will house the State of Michigan International Welcome Center and a small business incubator. The project is expected to create more than $3.9 million in private investment and 63 new jobs. The Ambassador Bridge connects Detroit and Windsor, ON.
"The value gained by redeveloping brownfield sites cannot be overstated," says Jennifer Granholm. "Turning around blighted properties that were once thought too costly to redevelop will bring the economic development and jobs we need in Michigan."
Brownfield SBT credits valued at a total of nearly $2 million were warded to the Detroit project as well as the following projects:
• Lakeside Development Company will use a $620,850 credit to help redevelop property located at 301 N. Lake St. in Cadillac into 20 condominiums. The nearly one-acre parcel was the site of the former Kraft Creamery. It has remained vacant since 1988, when the original buildings were demolished. The project is expected to spur more than $6.2 million in private investment. The city of Cadillac has approved an additional $228,000 in grants to provide infrastructure improvements and prepare the property for redevelopment.
• East 48th Street Properties will convert the former LifeSavers manufacturing plant at 635 E. 48th St. in Holland by reconfiguring the 393,000-sf facility to accommodate up to six self-contained spaces for lease to industrial or manufacturing-related operations. A tax credit valued at $1 million will facilitate redevelopment of the property, which is expected to create more than $10.8 million in private investment and hundreds of new jobs as the spaces are leased. The project also received approval last January through the MEDC to capture approximately $898,000 in state and local taxes for demolition and asbestos abatement.
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