Michigan Gov. Gretchen Whitmer announced support for projects that will create more than 850 new housing units across the state.
“We are supporting projects to build more than 850 units of housing across Michigan so we can keep expanding our housing supply and driving down costs for buyers and renters,” Whitmer said in a release. “These projects will create more than 700 good-paying jobs and drive more than $65 million of private investment into Pontiac, Lansing, and Detroit, making each city a better place to live. Our housing strategy of ‘build, baby, build’ will keep moving forward so we can help more Michiganders find an affordable place to live and have a great quality of life. Let’s keep getting it done.”
Here’s where the new housing units will be located:
Pontiac
The Michigan Strategic Fund approved a $79.2 million Transformational Brownfield Plan (TBP) for Pontiac, that is reimbursable over 25 years.
The funding will support the following three buildings:
- The Exchange Flats, creating a nine-story building containing 287 residential units;
- 91 North Saginaw (El Centro), redeveloping an existing four-story building to include restaurant/hospitality, meeting space, and creative/traditional office and flex space; and
- 48 West Huron (Tech and Arts), redeveloping a three-story building to include a food hall, event, and traditional office space.
Supporting these projects will help reimagine the community, and Whitmer’s office says that 60 of the units will be affordable at 80% of the county’s area median income.
“We are extremely grateful for the support from the Michigan Economic Development Corporation and Michigan Strategic Fund toward Exchange Pontiac, a catalytic mixed-use development at M-59 and Woodward. Today’s approval of the Transformational Brownfield for this project is a testament to the vision, tenacity and optimism for growth and prosperity in the City of Pontiac,” said Developer Dennis Griffin. “Economic development is a people process. The encouragement, patience, and skillful dedication from so many people toward gaining needed incentives for this Project with the singular goal of making a positive impact on the City as a whole is humbling. Pontiac is a very beautiful city with a constituency of wonderful, talented and dedicated people. We hope others take note of the opportunities in Pontiac, ‘The Heart of Oakland County,’ and bring resources to help support its continued growth.”
The city is also supporting the project with the following:
- An Obsolete Property Rehabilitation Act tax abatement that’s valued at $1.27 million over 12 years.
- A Neighborhood Enterprise Zone tax abatement, estimated for approval in Spring 2027, for 15 years (amount determined at the time of approval).
- The local portion of the property tax capture component of the Brownfield TIF, which is valued at $9.79 million.
Detroit
Aria Warren Detroit, LLC. received approval for a performance-based loan of up to $2.4 million to rehabilitate the Arthur Murray Building in Detroit, which is one of the largest vacant commercial buildings in the area, according to the release.
The project will bring 32 new housing units between 60 and 100% of the area median income, and nearly 8,000 square feet of commercial space.
“We are deeply grateful to the Michigan Economic Development Corporation and the Michigan Strategic Fund for their support in making the Arthur Murray renovation project a reality,” said Developer W. Emery Matthews, co-founder and Managing Principal of Real Estate Interests, LLC. “The Michigan Community Revitalization Program loan is a vital tool in addressing the need for neighborhood-scale, attainable housing, and it plays a key role in revitalizing communities like ours. This project is a testament to the power of public-private collaboration in creating meaningful impact.”
Lansing
In addition to these two locations, more than 560 housing units will be created in Lansing.
The city and New Vision Lansing, LLC. received approval from the Michigan Strategic Fund for up to $202.2 million, reimbursable over 30 years, for the housing project, according to the release.
The project includes the following:
- Tower on the Grand: Construction of a 26-story, mixed-use tower containing 287 residential units and commercial/retail space in both the tower and the Atrium Office Building. A two-story parking facility spanning Grand Avenue will support tenants and potential retail customers.
- Washington Square: Redevelopment of a 10-story former office building into a mixed-use building containing 60 residential units and first-floor retail space, as well as a three-story parking deck.
- Capitol Tower: New construction of a six-story, mixed-use office space and 105 residential units.
- Old Town: New construction of a seven-story, mixed-use building with two floors of integrated parking and five stories of residential space containing 90 units.
- Ingham Building: Redevelopment of a five-story, mixed-use building containing first-floor retail commercial space and 25 residential units on upper floors.
“Lansing needs more housing options, and the New Vision Lansing project will change both the trajectory of our city and our skyline!” said Lansing Mayor Andy Schor. “It will provide important housing for those that want to live downtown and in Old Town, two key business corridors in Lansing. In the coming years, with hundreds more people living downtown, we have the chance to make downtown and Old Town even more active and vibrant. I appreciate that the MSF Board agrees with this vision and has approved the transformational brownfield plan for the Capital City.”
