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2 major Detroit developments just got millions in subsidies

2 major Detroit developments just got millions in subsidies
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Northland mall redevelopment gets subsidies, demolition to start soon

Northland mall redevelopment gets subsidies, demolition to start soon
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Deadline Detroit | Rising construction costs mean more public loans for this Ilitch project in Detroit

Deadline Detroit | Rising construction costs mean more public loans for this Ilitch project in Detroit
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Cost to redevelop Ilitch-owned United Artists Theater building jumps $12 million

The housing development is moving forward again after encountering $12M+ in higher costs due to the COVID-19 pandemic. ....

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Ilitch-owned United Artists Theater redevelopment back on track

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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. ....

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