Gov. Granholm says downtown redevelopment project to generate 100 jobs

Governor Jennifer Granholm announced the state backing a project to turn a vacant site in downtown Grand Rapids into a 10-story mixed use development. The project is expected to generate 100 jobs.

Excerpts from the story:

Governor Jennifer M. Granholm today announced four brownfield redevelopment projects statewide are expected to create nearly 192 new jobs and generate more than $30.6 million in private investment in Michigan downtowns. The redevelopments in Detroit, East Lansing, Grand Rapids and Owosso are a result of assistance provided by the Michigan Economic Development Corporation

The city of Grand Rapids will partner with Fulton and Division LLC to redevelop a vacant site located near the Heartside neighborhood on the city’s south side. The developer will use state and local tax capture valued at $534,025 and invest approximately $14 million to help construct a new 10-story building that will house a hotel, condominium units, retail, and office space. The project is expected to create 100 new jobs.

“These projects are moving us closer toward the goal of making our cities cool places to live work and play,” Granholm said. “Transforming these properties will create a sense of pride in these communities and attract additional investment and jobs into their downtowns.”

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