The developers, who purchased the property from the Michigan National Guard last year, intend to demolish most of the blighted buildings on the 94-acre site. The Michigan Economic Development Corp. approved a tax increment financing plan worth approximately $2.4 million in state and local taxes to support the redevelopment.

The former Armory location is along 8 Mile Road in Oak Park, near Coolidge.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • 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
NOT FOR REPRINT

© 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.

Capital Markets
Detroit
Development
Industrial
Office