Tuesday, March 18, 2003
March 18, 2003
Contaminated Mack and Alter Site to Gain Store, Deli, Gas Station
Governor Jennifer M. Granholm announced today that a major brownfield redevelopment project is slated for Detroit’s far east side as a result of assistance from the Michigan Economic Development Corporation (MEDC).
The project involves converting a contaminated site on the northwest corner of Mack and Alter into a neighborhood retail center consisting of a retail store, deli and gas station.
“Urban revitalization is a high priority for my administration because our state’s future is directly connected to thriving cities that attract new businesses and new residents,” Granholm said. “Wherever we can transform abandoned urban sites into productive neighborhood centers, everyone involved will have reason to celebrate.”
Although the Mack and Alter area has experienced little new investment, the corner project represents a first step in the community’s plan to revitalize the neighborhood. The new retail project is expected to create 10 new jobs.
Eastside Land, Inc., a non-profit community based organization formed to facilitate commercial development on Detroit’s east side, has worked to assemble the 15 parcels needed for the project. The Curis Group, a local developer that has successfully completed similar projects in the city, will invest approximately $1.5 million in creating the retail center.
The project was approved for a Brownfield Tax Increment Financing credit to capture up to $100,993 in property taxes to fund demolition and site preparation activities.
“This project is an excellent utilization of how Brownfield Tax Increment Financing assists urban communities and neighborhood development,” said George Jackson, president of the Detroit Economic Growth Corporation.
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.