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MegadealsSubsidy Tracker Individual Entry
Company: Lofts on Michigan, LLC
Parent Company:
Subsidy Source: state
Location: Michigan
City: Grand Rapids
Address: 756 Michigan Grand Rapids
Zip: 49503
Project Description: The project consists of the demolition of an existing functionally obsolete and vacant building on a 0.68 acre property located at 740 and 756 Michigan Street in the City of Grand Rapids. Following demolition, a new four-story 90,000 square foot building will be constructed that will house an estimated 54 apartments above approximately 9,700 square feet of first floor commercial/retail space and 29,000 square feet of underground parking. It is anticipated the project will generate approximately $15.2 million in private investment and create 15 jobs. Lofts on Michigan, LLC has been approved for a $2,450,000 Loan Participation MCRP incentive to develop the project.
Year: 2014
Subsidy Value: $1,663,847
Program Name: Brownfield TIF Local Mills
Awarding Agency: Michigan Economic Development Corporation
Type of Subsidy: tax increment financing
Number of Jobs or Training Slots: 4
Source of Data:
(click here)
Notes: Year is fiscal year. Jobs is sum of new and retained positions.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.