Thursday, October 26, 2006
Michael Shore, MEDC
Detroit's Savarine Hotel on East Jefferson to be Remodeled
Governor Jennifer M. Granholm today announced that the former Savarine Hotel on East Jefferson Avenue in Detroit will be remodeled to accommodate 118 apartments with the help of $277,270 in tax credits. The Savarine building is a local landmark dating from 1926, most recently serving as low-income housing The project is expected to create 10 jobs and is receiving assistance provided by the Michigan Economic Development Corporation.
MEDC President and CEO James E. Epolito said that the use of brownfield incentives allows communities to return disused properties to the tax rolls, adding to the stock of productive assets, adding:
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