MSF-supported projects line Woodward Avenue corridor in Detroit, offer testament to city’s promising future

 In economic development parlance, Friday’s public opening of the QLine in downtown Detroit is a compelling case of connecting the dots.

Along Woodward Avenue from New Center through Midtown to the bustling entertainment and financial districts, the streetcar-on-rails will deliver (over 12 strategically located stops) the most vital of all ingredients to the resurgence of the state’s largest urban center – people. And, there’s no mistaking people are coming to the city as tourists, visitors and residents at a rate not seen since the 1950s.

“The QLine allows for efficient and affordable transportation at a historic time when new businesses, residential buildings and entertainment options are unfolding continually in Detroit,” said Steve Arwood, CEO, Michigan Economic Development Corporation, the state’s chief marketing arm that administers programs and conducts due diligence on behalf of the Michigan Strategic Fund.

The QLine (also referred to as the M-1 Line) received a $9-million Michigan Business Development program performance-based loan from the MSF, which promotes economic development and creates jobs throughout the state.

“The collaboration among various governmental units and foundations along with the private sector has translated into a 21st-century Detroit with a rising international profile as a place to invest, and where Michigan’s entrepreneurial spirit is on display to the world,” said Arwood.

Amid the grand-opening fanfare of the QLine’s 6.6-mile loop, visitors will discover the latest of a long line of symbols of Detroit’s economic revival, marked by an influx of private capital, public incentives, and residential and mixed-use developments along with historical renovations, many supported with grants and loans from the MSF.

Since the city emerged from bankruptcy in late 2014, more than two dozen projects have received some form of state support along the Woodward Avenue corridor. Among the high-profile projects is MSF’s authorization of $450 million issuance of private activity bonds to finance construction of the entertainment district (including Little Caesar’s Arena).

Other significant developments include:

(NOTE – CDBG: Community Development Block Grant; CRP: Community Revitalization Program; BDP: Business Development Program incentives)

2017

City Modern (betwn Brush Park, John R/Brush Street) Mixed-use development Total private investment: $43 million CRP: $7.5 million Brownfield: $15,796,867 Tax exemption: $1.8 million Jobs: 26 jobs

Casket Company (664 Selden Street) Mixed-use development Total private investment: $7.2 million CRP: $1 million Tax exemption: $1,199,485 Jobs: 65 jobs

1215 Griswold Street) Mixed-used development CRP: $1 million Total private investment: $10.3 million Jobs: 16

Adient (243 West Congress Street) Automotive manufacturing BDP: $2 million Total private investment: $97.8 million Jobs: 115

ArcelorMittal USA (8650 Mount Elliot St) Automotive-advanced manufacturing mats BDP: $2 million Total private investment: $83.5 million Jobs: 120

Metropolitan Hotel Partners (Location: John R Street) Mixed-use development CRP: $6.5 million Total private investment: $34 million Jobs: 30

Queen Lillian (3455 Woodward Ave.) CRP: $3.5 million Total private investment: $30.9 million Jobs: 53

Recovery Park (2255 E. Ferry Street) Agriculture 21st-CJF (2015–16): $1.4 million Total private investment: $1.9 million Jobs: 105

Shoppes at Woodward (6568 Woodward Ave.) Mixed-used development CRP: $750,000 Total private investment: $5.8 million Jobs: 37

Third & Grand (2911 W. Grand Blvd.) Mixed-used development CRP: $2 million Brownfield TIF (State): $6.7 million Total private investment: $54.6 million Jobs: 55

Trident-Corktown (2128 Trumbull Ave.) Mixed-used development CRP: $6.9 million Total private investment: $43.8 million Jobs: 50

250 West Larned Street Mixed-used development CRP: $5.8 million Total private investment: $28.9 million Jobs: 97

 

2016

 Griswold Project (150 Michigan Ave.) Commercial development CRP: $4.8 million Brownfield MBT: $3.6 million Total private investment: $70.1 million Jobs: 3

HM Ventures Group (1509 Broadway St.) Hospitality/accommodations CRP: $3.5 million Brownfield: $1.6 million Total private investment: $22.28 million Jobs: 48

The Plaza Midtown (3800 Woodward Ave.) Mixed-use development CRP: $3.5 million Total private investment: $21.1 million Jobs: 30

Urban Science Applications (101 Renaissance Center) Information technology BDP: $566,600 Total private investment: $2 million Jobs: 102

Woodward and Erskine (3152 Woodward Ave.) Mixed-used development CRP: $1.5 million Brownfield: $12 million Total private investment: $61.3 million Jobs: 50

2015

1145 Griswold Street Mixed-use development Brownfield: $2.5 million 21st-CJF: $2.4 million CRP: $1 million Total private investment: $22.7 million Jobs: 60

207 East Baltimore Avenue Residential development CRP: $225,000 Total private investment: $1.8 million

5734 Woodward Avenue Mixed-use development CRP (2014): $240,625 Total private investment: $1.5 million Jobs: 10

678 Selden Street Mixed-use development CRP: $670,000 Total private investment: $3.7 million Jobs: 4

Strathmore Apartments (70 W. Alexandrine) Mixed-use development CRP: $3.5 million Total private investment: $28.4 million

751 Griswold Street, Detroit Mixed-use development CRP: $682,279 Total private investment: $4.4 million Jobs: 70

Casamire Detroit (680 Delaware St.) Residential development CRP: $1 million Brownfield: $400,000 Total private investment: $10.2 million

CDK Global (500 Woodward Ave.) Information technology BDP: $1 million Total private investment: $3.6 million Jobs: 100

Du Charme Place (1544 E. Lafayette St.) Residential development CRP: $5.7 million Brownfield: $2.7 million Total private investment: $38.4 million Jobs: 6

KWA I Residential (1413 Woodward Ave.) Mixed-use development CRP: $1 million Brownfield: $1.3 million Total private investment: $12.7 million Jobs: 20

M1 Rail: $10 million Total private investment: $131.9 million Jobs: 41

Rivertown Phase I (1700 Atwater St.) Mixed-use development CRP: $8.1 million Brownfield MBT: $6.9 million Brownfield TIF State Mills: $3.9 million Total private investment: $61 million Jobs: 39

 

For more information on the QLine in Detroit, please visit: https://m-1rail.com/

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