A major development in Corktown marked another milestone last week. The Michigan Strategic Fund approved $5.8 million in state tax capture for brownfield work at the site of Michigan and Church.
The City of Detroit received approval for the brownfield work plan and supports the project with $10.1 million in local brownfield reimbursement. The City has approved a Commercial Rehabilitation Act tax abatement valued at $10.6 million.
The development, led by Oxford Perennial, will bring a seven-story building with 188 apartments and retail, plus seven townhomes, and a new parking garage to the historic neighborhood. Infrastructure improvements in the area will include new sidewalks, brick pavers, curbs, gutters, and landscaping.
Ten percent of the apartments will be set aside for those making 60 percent of the Area Median Income. The market rate apartments will rent for $1,000 to $3,500 per month, according to Crain's, while townhouses will rent for $6,500 to $7,500 per month; they'll be converted into for-sale units in 2030.
This is one of many developments planned or in the works in Corktown. Ford is currently renovating Michigan Central Station and the nearby Book Depository; a parking garage is currently going up behind the train station on Bagley. A new Detroit Smart Parking Lab is opening at the Assembly Garage on Fort - a collaboration between Bedrock, Ford, and Bosch. The Godfrey Hotel is planned on Michigan, also from Oxford Perennial. For-sale townhouses and condos are being built within the neighborhoods. The site of the old Tiger Stadium will see more construction in the near future, as an affordable housing apartment building is planned. And a smaller shipping container development is being built next to the newly rehabbed building housing Supergeil.
