State offers redevelopment assistance to Brush Park and Midtown developments

Excerpts from the article:

In Detroit’s northern Brush Park, the $7.3 million redevelopment of several properties is aided by a MEGA board-approved plan to capture $1.1 million in state and local taxes to assist with project costs.

The project includes converting the former Melrose Hotel to 30 condominiums, turning an adjacent building into a heated parking area, and creating a commercial strip.

The state granted Boulder Developments a $730,000 SBT brownfield-redevelopment credit toward the project in October.

For a Midtown Detroit project, the MEGA board approved a plan to capture $948,500 in state and local taxes for the $6.4 million redevelopment of the former Eddystone Hotel.

Eddystone Development plans to create 60 one- and two-bedroom loft-style condominiums and street-level commercial space. The state in June granted a $641,603 SBT credit toward the project.

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