Developments ranging from a massive industrial adaptive reuse to a redevelopment of a former dance school received funding through the state today. The Detroit Economic Growth Corporation (DEGC) received $14.5 million to go towards gap funding for these projects.
The funding is through the Michigan Economic Development Corporation's (MEDC) Revitalization and Placemaking (RAP) 2.0 program. Projects were chosen based on a variety of factors, including location, historic renovation, minority developers, and the stage of development, i.e., projects that are about ready to start.
The announcement took place at Jefferson Intermediate School in Midtown (above), which is currently under construction. This is a $44.4 million project that received $1.425 million in RAP funding. It will be the future home of Invest Detroit, and will have additional space for office tenants, including emerging Detroit-owned businesses. Midtown Detroit Inc. and Invest Detroit are leading this project.
The four other projects are expected to break ground in the first quarter of this year. These are:
Broadway Lofts: The rehab of this project includes three buildings on Broadway; the facades will be restored while a new building will go up behind them. It will add 80 residential units to downtown Detroit, plus ground-floor retail. 20% of the units will be offered as affordable. Led by Roger Basmajian, Broadway Lofts received $4.275 million in RAP grant funding. This project was included in our 5 Detroit development stories to watch in 2024.
Fisher 21 Lofts: This project was announced nearly two years ago. This will see the adaptive reuse of a 600,000-square-foot former body plant (near the junction of 75 and 94) into 433 residential units, plus retail and coworking space. 63 units will be affordable. The development is led by developers Gregory Jackson and Richard Hosey. It received $4.750 million in RAP funding.
The Arthur Murray Building: Located on East Warren, the first franchise location of the Arthur Murray dance studio will be converted into 32 apartments and retail space. The $14.9 million development, led by developer Emery Matthews, received $2.128 million in RAP funding.
The Deco: Also on East Warren, the Deco is a conversion of an 8,000-square-foot, two-story building into six apartments on the second floor, and La Jalisciense Taqueria on the first. The $4 million development is led by Brandon Hodges and Damon Dickerson, and received $1.197 million in RAP grant funding. Both the Deco and Arthur Murray Building are part of a larger redevelopment strategy in the East Warren neighborhood.
“Our development team is humbled to have been selected for the RAP 2.0 grant. This award will ensure that we’re able to execute a high-quality adaptive reuse of the subject property and offer affordable housing and community driven retail for residents and visitors,” said Hodges, who also serves as principal for TRIBE Development. “We’re very excited about the activation along the E. Warren commercial corridor and are happy to be a part of its future.”