WASHINGTON (June 7, 2017) –- (RealEstateRama) — Downtown Detroit will soon benefit from a new building with apartments and retails space thanks to a $250,000 loan and $750,000 grant from the Michigan Department of Environmental Quality (MDEQ).
The Detroit/Wayne County Port Authority received the funding to revitalize and redevelop the site of the former Statler Hotel at the corner of Washington Blvd. and Park Ave. The property has been vacant since the hotel was abandoned in 1975 and demolished in 2005.
The MDEQ brownfield grant and loan will cover the costs of mitigating the environmental contamination at the site. VG Statler City LLC will then construct a mixed-use building with a planned 288 rental apartments, ground floor retail, and underground parking. The redevelopment will meet National Green Building Standards including a green roof and will bring an estimated 58 jobs and 400 residents to the up and coming area.
The MDEQ’s Brownfield Redevelopment Program provides grants and loans to local governments for environmental activities on brownfield properties where redevelopment is proposed. Brownfields are vacant or abandoned properties with known or suspected environmental contamination.
Additional contact: Melody Kindraka, MDEQ Public Information Officer, , 517-284-6716
Contact: Michelle Bakun, MDEQ Brownfield Coordinator, , 586-233-3408
Agency: Environmental Quality