State approves financial incentives for downtown housing
The Michigan Economic Development Authority joins the City of Grand Rapids and the local Brownfield Redevelopment Authority in extending tax breaks to two different apartment projects.
According to excerpts from the story:
Moch International, led by the father-son team of Joseph A. and Joseph W. Moch, won approval for $1.7 million worth of tax credits and rebates to help build a $15.5 million, 171-unit apartment complex at 235 Grandville Ave. SW.
Separately, a $3.7 million renovation of a former bicycle factory, 514 Butterworth Ave. SW, which will include 20 apartments plus offices and retail space, won tax credits and rebates of more than $700,000.
Read the complete story here.
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