Posted Sep 27, 2022, 9:02 PM
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Detroiter4life
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Join Date: Jul 2001
Location: Back home in Georgia!
Posts: 4,073
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Platform's Piquette project at former Studebaker building nets $5 million loan
Quote:
An entity tied to Detroit-based developer The Platform LLC has received a $5 million loan for its redevelopment of the former Studebaker Sales and Service Building it owns in the city's Milwaukee Junction neighborhood into more than 160 workforce apartments.
In addition, the Michigan Strategic Fund board on Tuesday morning signed off on $882,821 in state brownfield reimbursement.
A MSF memo says local buy-in includes an Obsolete Property Rehabilitation Act tax break valued at $3.06 million and the brownfield support valued at $473,534.
The building, which is 108,000 square feet, sits at 411 Piquette St. next to the former Ford Piquette Avenue Plant where the Model T was born.
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https://www.crainsdetroit.com/real-e...nets-state-aid
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