Governor announces incentives for Downtown revitalization projects in Detroit
The city of Detroit will utilize state and local tax capture valued at $8.1 million to help redevelop the Argonaut building in Detroit’s New Center area to accommodate housing, commercial and retail opportunities.
Developer Orton Development, Inc./Midway Corporate Plaza LLC will invest $67 million to restore and rehabilitate the historic 11-story building to include 275 one- and two-bedroom lofts, 84,000 square feet of office space and about 15,000 square feet of retail shops and parking facilities for up to 800 vehicles.
This project was also approved for a brownfield Single Business tax credit valued at $5.6 million in January 2005.
– Source: michigan.org
Â
Related Articles
Partner Partner Content Celebrating Financial Literacy Month: Detroit’s Chase Community Manager Shares Tips for Strengthening Financial Health
Gail Taylor, Chase Community Manager in Detroit, shares ways to help strengthen your financial health.
Women and wealth: Tips for navigating your lifelong financial journey
Are you saving up for a house, or retiring early? Where do you want to be in the next ten or twenty years? Everyone’s financial situation is unique, so it’s important to think about these questions.
Partner Partner Content How Detroit’s New Chase Community Manager Can Help Empower Your Financial Journey
Anthony Miller joins Gail Taylor and Annette Washington as Detroit’s newest Chase Community Manager. This dynamic trio— part of a national network of Community Managers in all lower 48 states—helps to build stronger financial futures in Detroit.
