Thursday, June 15, 2006
Michael Shore, MEDC
Governor Jennifer M. Granholm today announced the award of a brownfield tax incentive to facilitate the redevelopment of the former Greyhound Bus station in East Lansing. The project is expected to involve more than $5.2 million in private investment and create more than 40 new jobs.
The developer, Holiday Townhouse LLC, will use a brownfield Single Business Tax credit valued at $521,472 to demolish the existing buildings and construct a mixed-use development to include 21 condominiums, 15 townhouses and nearly 9,000 square feet of retail space. The new development will be known as the West Village.
In March 2006, the Michigan Economic Development Corporation approved state and local tax capture valued at $1.8 million to prepare the property for redevelopment.
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