Flint development news

[robk1982]

http://www.mlive.com/business/mid-mi...opment_in.html

Metro Community Development in Flint launches micro loan program for small businesses; Funding from Charles Stewart Mott Foundation aimed to help downtown Flint and Genesee County businesses grow

Melissa Burden | Flint Journal

FLINT, Michigan — A new micro loan program for small businesses will help renovate a downtown Flint building and has spruced up a restaurant to reopen after a fire.

Metro Community Development in Flint recently launched a micro loan program for small businesses, funded through $125,000 in seed money — with $100,000 available for loans — from the Charles Stewart Mott Foundation.

.......

One $15,000 loan went to Joel Rash of Flint, who said he’ll use the funds to renovate the building he owns at 625 S. Saginaw in downtown Flint, the former Home Pharmacy building.

“The storefront needs a new brick facade, the doors have to be upgraded to be ADA compliant and the interior needs some cosmetic improvement,” Rash said.

The other went to Churchill’s Food & Spirits, Crews said.

The downtown eatery and bar, 340 S. Saginaw St., reopened in June after a kitchen fire in late December.

........

I believe 625 S. Saginaw is the building to the left of Flint City T-shirts in the picture I posted a few days ago.

[robk1982]

http://www.mlive.com/news/flint/inde...lan_comin.html

Major redevelopment plan coming to southern stretch of Saginaw Street in Flint

Melissa Burden | Flint Journal

FLINT, Michigan — The southern stretch of South Saginaw Street in Flint has a storied past — and a brighter future.

The area once was home to General Motors headquarters, housed Fisher Body No. 1 plant, helped give birth to the UAW and employed hundreds of workers. The once-bustling General Motors facility turned into a mostly vacant shell.

The area has thrived and suffered.

And now, Diplomat Specialty Pharmacy is bringing hundreds of workers into the Great Lakes Technology Centre — and there are the sprouts of a major redevelopment plan to go along with its investment.

The focus is on South Saginaw Street between Hemphill and Atherton roads and the effort is being led by the same players who ushered in a major rebirth of downtown Flint over the past decade.

Uptown Reinvestment Corp. has helped guide and spark development downtown, replacing empty storefronts with thriving businesses, residential lofts and restaurants.

Now, it is eying the stretch across from the tech center — an area that economic developers see as a gateway from Burton into the city.

“Our main focus is downtown, but it’s not our only focus,” said Tim Herman, president of Uptown Reinvestment’s board and chief executive officer of the Genesee Regional Chamber of Commerce. “We’re now looking at gateways into the city.”

And, it’s already starting.

Uptown bought the old Porky’s Clubhouse bar and grill, 4229 S. Saginaw St., and an adjacent lot in June for $150,000, according to a warranty deed filed with the Genesee County Register of Deeds office.

The Charles Stewart Mott Foundation earlier this spring granted Uptown Reinvestment $310,000 to help it buy the parcels as “part of the city of Flint’s overall strategy to improve the South Saginaw Street corridor between Atherton and Hemphill roads.”

“It makes some sense as properties become available ... to clean those properties up, especially to attract and retain viable businesses in the community along those corridors,” Herman said.

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[uaarkson]

Haha. I know Joel Rash personally. He's been trying to get my band a show at The Local for months.

[robk1982]

Ask him what he's going to do with that building once it's renovated.

[robk1982]

[uaarkson]

Praying for good retail.

[robk1982]

http://www.mlive.com/news/flint/inde...l_for_the.html

Powers, Michigan School for the Deaf would share campus under proposal

Khalil AlHajal | The Flint Journal

FLINT, Michigan — A private investor wants to buy the state-owned Michigan School for the Deaf property under a proposal in which MSD students would share the Miller Road campus with Powers Catholic High School students in new and renovated buildings.

Lurvey White Ventures, headed by Flint developer Ridgway White, would build a new residential school that White said would incorporate state-of-the art technology to cater to the needs of deaf students and lease the building to MSD for 30 years.

It also would also, under the plan, renovate and expand the historic Fay Hall on the MSD campus and sell it to Powers Catholic High School, which has been looking to move from its Carpenter Road location in Mt. Morris Township for years.

Powers officials wouldn’t confirm involvement in the proposal, but did not rule out the move.

“It's been no secret that Powers has been looking for a new site that would meet their needs,” said Michael Diebold, spokesman for the Catholic Diocese of Lansing. “If it turns out to be a site that would meet our needs, we would certainly look at any of those sites.”

MSD Superintendent David Sanderson on Tuesday revealed to the plan at a meeting with about 60 MSD parents and alumni in the school cafeteria.

The deal still has to be finalized and would eventually have to be approved by the state Legislature before the sale could be completed and the construction would begin. A price for the campus has not been set, White said.

State Department of Education spokesman Martin Ackley said the plan is being considered because the current campus is badly in need of costly repairs that the state can’t afford.

“There are some physical needs there at the school that the state is not in a fiscal position to take care of,” Ackley said.

White said crumbling brick, deteriorating roofs and roads and asbestos are among the current infrastructure problems.

“They (MSD) had over $30 million in deferred maintenance and we could save the state money by building them a new school,” said White, who hopes to have a finalized plan by Sept. 17.

“If Powers constituents support their involvement, then it would be a nice marriage,” White said. “They both would identify with the campus equally... We’re looking to start construction at the beginning of next year if everything gelled, if all the concepts come together. There’s a lot to figure out.”
...........

[uaarkson]

Does anyone here have any photos of downtown Flint at night pre-2000?

[robk1982]

http://www.mlive.com/news/flint/inde..._judgment.html

Flint taxpayers likely will pay for $8M Genesee Towers judgment in December, officials say
Published: Tuesday, September 28, 2010, 4:58 PM Updated: Tuesday, September 28, 2010, 6:33 PM
Kristin Longley | Flint Journal Kristin Longley | Flint Journal


FLINT, Michigan -- A special tax to pay for the $8-million Genesee Towers judgment against the city could be on Flint residents' tax bills this December, city officials said today.

The Michigan Supreme Court today declined to reconsider its decision not to hear the city of Flint's appeal of the Genesee Towers case, which upholds a previous decision that the city has to pay the building's owners more than $6 million plus interest, Flint Mayor Dayne Walling said.

The ruling likely means the city of Flint will be court-ordered to put a special assessment on the December tax roll to pay for the legal judgment, City Attorney Peter Bade said. It also means the city of Flint would own the Genesee Towers building.

Finance Director Michael Townsend said the one-time special assessment would cost the average homeowner $150.

......

[Rizzo]

Awful. That thing is such a worthless POS. No one wins in this case.

[uaarkson]

Well, at least it'll be gone soon. What a bizarre day that will be.

[robk1982]

How much would demolition cost? How much would a renovation cost? Later in the article it says that the arbitrators ruling was $6million, plus legal fees (and now interest) MINUS the cost of repairs.

I doubt a demo would be considered a "repair".

[LMich]

But, the plan has been all along -- and I think stated by both the current and former mayors -- that this building was being bought to be demolished. I thought that was always explicitly stated. If not explicitly stated than at least always implied.

I can't see the city rehabbing it. The only way this thing survives is if they think they can flip the place, and their doesn't seem to be any buyers out there or they'd have come forward years earlier.

If I had to guess why they used the word "repairs", the only likely scenario seems to be that they mean "repair" it enough just to stabilize it for demolition.

[hudkina]

So wait... Wouldn't it make the most sense to spend $6 million to repair the building? No matter what they have to pay $6 million and take clear ownership of the building, right? And any costs for repairs made to the building will be taken away from the money they have to pay... So if they make the repairs, and then turn around and sell a "like-new" building, they can probably recoup a portion of the judgement.

In other words, they can pay $6 million for basically nothing and then spend even more demolishing a building, or they can pay $6 million to basically repair a building and then sell it for whatever they can get for it... Or am I just not understanding it.

[LMich]

The city is now formally and legally obligated because of interest and court costs to pay $8 million to the owner, and they are going to the taxpayers just to pay for the purchase. The city govenrment doesn't have the money at the moment to even purchase the building, let alone to repair it once it's been purchased.

[hudkina]

Yes, but if they really owe the $8 million minus the costs of repairs, then it would seem that the logical step is to repair the hell out of the building. The city is already on the hook for the money, so they're going to have to pay it regardless of what they do with the building that they now own. If the settlement means that they can subtract whatever amount of money the spend toward repairs, then why not do that?

For example, they absolutely have to spend $8 million. If they spend $6 million on repairs, then they only have to pay $2 million in damages to the former owners. Then, since $6 million in repairs would probably do a decent job of bringing the building into relatively good condition, the city can turn around and sell the building for a reasonable price. Hell, if they were smart, they'd give it away to the first corporation that is willing to move a few thousand jobs into the city...

Or maybe the judgement is only for repairs the city had made up to that point. I don't know. I'm just saying...

[LMich]

Here's the paragraph that seems to be tripping everyone up:

The arbitrator’s decision in 2007 awarded the building's owners -- V. Kumar and Sasikala Vemulapalli -- more than $6 million, including legal fees, but reduced by the cost of repairs, according to court documents.

That seems to make it pretty clear.

[robk1982]

Here's the updated version of the story from last night - it speaks a little bit (really little) about possible renovation of the building, but shows that demo isn't the only option.


http://www.mlive.com/news/flint/inde...st_averag.html

Genesee Towers may cost average taxpayer $150 after Flint loses legal fight
Published: Wednesday, September 29, 2010, 5:15 PM Updated: Wednesday, September 29, 2010, 5:25 PM
Kristin Longley | Flint Journal Kristin Longley | Flint Journal


FLINT, Michigan — It’s a crumbling, 19-story vacant eyesore — and the average Flint taxpayer likely will have to shell out $150 to pay for Genesee Towers’ estimated $8 million price tag.

.........

Bade said the city expects to get an official court order in the next week or so forcing the city to put a special assessment on the tax rolls.

After that, he said there might be some negotiation on the final price tag for the building. Some repairs are needed and the owners have since made money from commercial antennae on the roof, he said.

“Any additional cost to people during these economic times will be hard,” City Councilman Sheldon Neeley said. “I’m sure it’s going to be difficult for everybody, including myself as a homeowner.”

Once the building’s paid for, the city of Flint would own Genesee Towers.

Walling said the city has two options — renovation or demolition — and both will be considered carefully.

.........

[robk1982]

Wanna win $1000? The AIA-Flint chapter is having a competition for renovation ideas for Genesee Towers.

http://www.aiaflint.com/wp-content/u...tion-Flyer.pdf

[uaarkson]

Booting up CATIA now.