©2016 Michigan Economic Development Corporation

Granholm: State Assistance Backs $53 Million Ludington Waterfront Redevelopment

Tuesday, June 13, 2006

Michael Shore, MEDC
(517) 335-4590

235 Condos Coming to Pere Pointe Village, Schooner Pointe

Governor Jennifer M. Granholm today announced that two blighted waterfront sites in Ludington will be transformed into residential developments as a result of state and local brownfield tax incentives approved by the Michigan Economic Development Corporation. The projects are expected to involve more than $53 million of private investment.

The projects:

  • Pere Pointe Limited LLCwill invest $30 million in a multifamily complex called Pere Pointe Village on 11 acres along South Washington Avenue, building on a finger of land that extends out into Pere Marquette Lake. The project is being developed on a former industrial and commercial site. It is to consist of three five-story structures each comprising about 10,800 square feet and 40 residential units for a total of 120 condominiums, and a two-story 250-space parking deck. The company will use state and local tax capture valued at $467,170 and a $1 million brownfield SBT credit for removal of contaminated soil and watercourse dredging. The project is expected to create six new jobs.
  • Schooner Pointe LLC

jobs.

www.michigan.org.

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