Latest Breaking News On - Michigan strategic fund in lansing - Page 2 : comparemela.com

View Comments The redevelopment of the long-vacant, 18-story United Artists Theater building in downtown Detroit into nearly 150 apartments is moving forward again after delays and cost increases resulting from the COVID-19 pandemic. The pandemic and recent price spikes for construction materials have pushed up the project s costs by about $12 million to likely over $80 million. It also pushed back the anticipated start of construction by more than a year to this July or soon after. On Tuesday, the Michigan Strategic Fund in Lansing approved a $2 million increase to the project s community revitalization loan to help cover the rising costs. The rest of the gap will be filled through various other funding sources, including a $7.6 million increase in the project s Housing and Urban Development loan and an additional $1 million from the city.

United statesCity of detroitRichard hoseyDon bardenEmmett moten jrDonald rencherC howard craneUnited artistsMichigan strategic fund in lansingDevelopment for the city of detroitMichigan strategic fundHotel eddystoneBagley development groupUnited artists theaterUrban developmentHistoric detroit