Detroit Life building awarded $600K brownfield tax credit

Hope springs eternal for the eventual redevelopment of the long-vacant Detroit Life Building -- it was just awarded $600,000 in clean-up tax credits by the Detroit Brownfield Redevelopment Authority.

Excerpt:

The brownfield credit is just one piece of a financial package that also will include historical tax credits as well as conventional investment.

Ilitch Holdings, the family's business entity, plans to move some of its subsidiary functions into the building once the renovation work is complete. Plans call for the first floor to contain retail or commercial space, while Floors 2 through 10 would contain office space.

Read the entire article here.