Quote:
Originally Posted by deja vu
Just a few weeks after we learned that the City of Muskegon will pay Port City Construction (Gary Post, owner) up to $350,000 for demolition work at the Ameribank building...
The City is really investing / trusting a lot to this one developer. The interest-free component of this deal ends at the end of the year. Any principal remaining after December 31 would begin accruing interest.
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I think they trust him because he has proven himself a capable developer. Besides the Heritage Square Townhomes mentioned in this thread he also successfully redeveloped/restored three of the buildings that survived the Muskegon Mall's demolition.
To those not familiar here are a few shots showing the transformation of those three buildings.
Mallsite1 by
Brandon Bartoszek, on Flickr
A Complete Block by
Brandon Bartoszek, on Flickr
Russell Block & Century Club by
Brandon Bartoszek, on Flickr