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Thursday, October 8, 2015
MEDC announces MSF approval of five community development projects
LANSING, Mich. – The Michigan Economic Development Corporation today announced Michigan Strategic Fund approval of five community development projects that will generate nearly $14 million in total investment and create 121 jobs around the state.
“These projects will act as catalysts for viable residential neighborhoods by creating downtown living options and redeveloping obsolete buildings into vibrant commercial and residential spaces,” said MEDC Chief Executive Officer Steve Arwood. “We are pleased to support these efforts to strengthen and further revitalize these communities.”
The village of Edmore has been awarded $625,875 in Community Development Block Grant funds for the Edmore Marketplace in downtown Edmore. The project will include the restoration of a blighted historic building that will be redeveloped into a year-round, indoor multipurpose marketplace and activity center as well as the construction of an outdoor farmers market. The project will generate a total investment of $870,000 and create 66 jobs. The village of Edmore has committed a local match of $244,125.
Benzie County has received $463,370 in Community Development Block Grant funds for the Crystal Mountain expansion project near Thompsonville in Weldon Township. Crystal Mountain – a four-season resort community with skiing, overnight accommodations, golf, wedding and meeting facilities, and the LEED-certified Crystal Spa – is planning to undergo two major expansion projects. The first will take place at the Inn at the Mountain and include construction of a specialty grocery, retail space, coffee bar and a combination of 25 new hotel rooms and suites. The second expansion will include the addition of eight new ski trails and a triple chairlift. The project will generate private investment of more than $10 million and create 48 jobs. The CDBG funds will be used for on-the-job training for these new employees.
The city of Hillsdale has been awarded $785,500 in Community Development Block Grant funds for blight elimination and rehabilitation needed for the 42 Union Street Redevelopment project near downtown Hillsdale. When completed, the project will include retail space and eight apartment units. The project will result in total capital investment of more than $1.5 million and create three jobs. The city of Hillsdale has approved a 12-year Obsolete Property Rehabilitation Abatement valued at approximately $315,967 in support of the project.
Port Huron Citadel, LLC plans to historically renovate and redevelop the Port Huron Citadel building located on Huron Ave. in downtown Port Huron. The completed project will consist of a mixed-use building that will include commercial and retail space, a live community theatre and six residential lofts. The building will be renovated to preserve as many of the historic features as possible. The total project will generate a total capital investment of more than $1.2 million and create four jobs, resulting in a $200,000 Michigan Community Revitalization Program performance-based grant. The city of Port Huron is supporting the project with Obsolete Property Rehabilitation Act and Neighborhood Enterprise Zone tax abatements.
The city of Munising has been awarded $459,050 in CDBG funds for blight elimination through a historic preservation grant needed for the Pictured Rocks Interpretive Center. The building has been vacant for over three years with no plumbing, sewage, heating or electricity. Additionally, the roof is leaking and there is water damage in the structure. This project will historically renovate the building’s interior and facade into a fully functioning interpretive center with retail and office space. The project is expected to generate private investment of $500,000.
Pure Michigan is a brand representing business, talent and tourism initiatives across Michigan. These efforts are driven by the Michigan Economic Development Corporation, which serves as the state’s marketing arm and lead advocate for business growth, jobs and opportunity with a focus on helping grow Michigan’s economy.
About Michigan Economic Development Corporation (MEDC)
The Michigan Economic Development Corporation is the state’s marketing arm and lead advocate for business development, job awareness and community development with the focus on growing Michigan’s economy. For more information on the MEDC and our initiatives, visit www.MichiganBusiness.org. For Pure Michigan® tourism information, your trip begins at www.michigan.org. Join the conversation on: Facebook Instagram LinkedIn, and Twitter.
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