Tuesday, August 15, 2006
Michael Shore, MEDC
Broderick Tower, Fort Shelby Hotel Being Restored
Governor Jennifer M. Granholm today announced three brownfield redevelopment projects that are expected to create as many as 509 jobs and involve more than $113 million in private investment in Michigan downtowns. The redevelopments in Detroit and Ferndale are resulting from assistance provided by the Michigan Economic Development Corporation.
The redevelopment projects announced today:
- Detroit:MCP Development LLC will use a $6.8 million brownfield Single Business Tax (SBT) credit to restore the historic Fort Shelby Hotel designed by notable architect Albert Kahn on West Lafayette near the Central Business District. The first phase entails redevelopment of the first 10 floors as a Doubletree Guest Suites Hotel with 204 rooms and a 38,000-square-foot state-of-the-art managed Conference Center concentrating on groups of 5 to 75 attendees. In the second phase, floors 11 through 21 will be renovated into 63 luxury apartments. The developer will invest more than $68.9 million in the project, which is expected to create 374 new jobs.
- Ferndale:State and local tax capture valued at $141,291 will help Singer-Wolfson Development Corporation transform the former Stop and Go automobile service garage on East Nine Mile Road near Woodward Avenue in downtown Ferndale into mixed-use retail space, loft condos and parking. The project is expected to include $5.1 million in private investment and create 40 new jobs.
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