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My Town: State approves three local redevelopment projects | Business

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My Town: State approves three local redevelopment projects
Business, Families, News
My Town: State approves three local redevelopment projects

GRAND RAPIDS, Mich.--  Three development projects in Grand Rapids and Kalamazoo are getting state approval.

The Lofts on Michigan, LLC is being awarded a $2.45 million Michigan Community Revitalization Program loan to demolish the vacant building at 740 and 756 Michigan Street to build a four-story mixed use building.  The site’s first floor will be dedicated to commercial/retail businesses; the upper three floors will contain 54 apartments.  The project is expected to generate $15.2 million in investments and 15 permanent jobs.

The City of Grand Rapids is also getting $1.4 million to demolish 12 homes and replace them with four buildings containing 66 apartments.  The 600 Clancy Redevelopment project  will include asbestos abatement, site preparation activities and infrastructure improvements.  The project is expected to create $8 in investments and three full-time jobs.

In Kalamazoo, the Brownfield Redevelopment Authority plans to use $1.4 million in local tax revenue to replace the old buildings in the 2700 block of West Michigan Avenue  with a five-story mixed use building.  The facility will contain retail, restaurant and office space as well as 40 four-bedroom apartments.  The project is expected to generate $13.6 million in investments and create 100 full-time equivalent jobs.

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