Thursday, April 7, 2016
The historic depot in downtown Kalamazoo will undergo renovation and receive an addition with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.
LANSING, Mich. – The historic depot in downtown Kalamazoo will undergo renovation and receive an addition with support from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today. The project is expected to generate a total capital investment of nearly $3.6 million and create up to 20 jobs.
“The restoration of this historic structure will bring new vitality to downtown Kalamazoo, create jobs for local residents and serve as a catalyst for additional economic growth in the area,” said MEDC Chief Executive Officer Steve Arwood. “We’re pleased to support the efforts of the community in making this project a reality.”
GTW Depot, LLC(an entity of PlazaCorp Realty Advisors) plans to historically renovate the vacant depot building located at 427 E. Michigan Ave. in the entertainment district of downtown Kalamazoo. The depot, built in the 1920s, was originally constructed for the Grand Trunk Western Railroad and has also served as the home of a used furniture store, a guitar shop and other businesses. The completed project will consist of restaurant and office space, with HopCat craft beer bar and restaurant and Maru Sushi and Grill confirmed as future tenants. The project will include restoration of the historic exterior and interior of the building, along with the addition of new porch space. The project will generate a total capital investment of nearly $3.6 million and an anticipated creation of 20 jobs, resulting in a $484,435 Michigan Community Revitalization Program performance-based grant.
MSF also approved local and school tax capture in the amount of $145,050 for the City of Kalamazoo Brownfield Redevelopment Authority for alleviation of brownfield conditions including asbestos removal, demolition, and site preparation.
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.
