(CBS DETROIT) – Detroit Mayor Mike Duggan and the Detroit Economic Growth Corporation (DEGC) are announcing $14.5 million in funding to support five neighborhood development projects.
The DEGC received the grant from the Michigan Economic Development Corporation (MEDC) through the Revitalization and Placemaking (RAP) 2.0 program.
City of Detroit
The city says African American developers are leading a majority of the projects, and the funding is critical to the five mixed-use projects.
CBS News Detroit will stream live coverage at 11 a.m.
What projects will benefit from the funding
The city released the following details regarding the projects the funding will support.
- Broadway Lofts – The Broadway Lofts development, led by Roger Basmajian, will convert three buildings at 1322, 1326 and 1332 Broadway Street into a mixed-use property with ground-floor retail space and mix of market rate and affordable apartments.
- Fisher 21 Lofts – The Fisher 21 Lofts project, led by Greg Jackson and Richard Hosey, will convert a 600,000-square-foot building into market rate and affordable apartments, along with retail and coworking space.
- The Arthur Murray Building – The $14.9 million mixed-use development led by Emery Matthews will convert the abandoned 25,242 square-foot Arthur Murray Building into residential apartments and ground-floor retail space.
- The Deco – The development at 16703 E. Warren, Brandon Hodges and Damon Dickerson, will be transformed into six new rental apartments and a ground-floor restaurant to be occupied by La Jalisciense Taqueria.
- Jefferson Intermediate School – The Jefferson Intermediate School, located at 950 Selden Street and 960 Frank Street, will be transformed into a multi-tenant office and innovation/co-working space. Led by Midtown Detroit, Inc. and Invest Detroit, the facility will also serve as the new Invest Detroit headquarters.
