An adaptive reuse project in Milwaukee Junction received a boost from the state this week. Because of rising interest rates, the state approved a Michigan Community Revitalization Program (MCRP) performance-based loan increase of $2 million to support 411 Piquette, which will bring 161 "workforce housing" apartments and 190 parking spots to the neighborhood.
The $40.4 million redevelopment of the former Studebaker Plant, which sits next to the Piquette Plant, is being led by the Platform. The project had received a $5 million MCRP loan last September.
It sits in a rapidly changing area in the middle of the city. Milwaukee Junction was largely industrial for years, but many buildings have been redeveloped for a variety of purposes over the past five years. Chroma, on West Grand Boulevard, was used for storage for years and is now home to coworking and event space. Restaurants and bars like Freya, Oak & Reel, and Kiesling have opened in the past few years, while many buildings have been turned into lofts and apartments. And we await the largest project in the area - the redevelopment of the massive Fisher Body 21 Plant.