The Michigan Strategic Fund today approved nearly $19 million in incentives for one of the largest redevelopment projects in Detroit. The Fisher Body Plant, or the Fisher 21 Lofts, will convert the massive former auto plant into 433 apartments, along with retail and co-working space.
The state approved an $8.5 million performance-based loan, a $1.5 million performance-based grant, and a Brownfield tax capture for about $8.7 million for the $155 million project.
“We are incredibly proud to be spearheading the largest African American-led development project in Michigan with the revitalization of the iconic Fisher Plant,” said Gregory Jackson and Richard Hosey of Fisher Lofts 21, LLC. “This project is about more than just bricks and mortar—it’s about restoring a piece of Detroit's history and creating opportunities for the city’s future. With the creation of jobs and hundreds of units of affordable and market-rate housing, this project is a testament to what’s possible when community-driven and minority-led investment comes together.”
This is another investment in the Milwaukee Junction neighborhood from the Michigan Strategic Fund. The MEDC has also invested in 411 Piquette, another auto plant to residential conversion, along with Fortescue, who will build a manufacturing facility for electronic vehicle battery systems in the neighborhood.
The development was announced over two years ago, and some remediation work has started, although an official groundbreaking hasn't taken place yet. It's expected to open in 2027.
