The Detroit City Council recently approved four Detroit Brownfield Redevelopment Authority (DBRA) brownfield tax increment incentive plans for renovation projects in Midtown and Downtown Detroit. The renovations include mixed use buildings, parking structures, apartments and a distribution/warehouse and office building.
- C&C McGraw Rd., LLC, is the developer of the Comprehensive Logistics Redevelopment Plan at 9400 McGraw Street, which entails completing construction of an approximately 365,040-square-foot distribution/warehouse and office building. The estimated total investment is about $19 million and the DBRA approved a Tax Increment Financing (TIF) plan that will allow recovery of about $1 million for eligible activities.
- Du Charme Place, LLC, is the developer of Du Charme Place at 1544 East Lafayette Street. The project entails three, four-story buildings with a total of 185 one- and two-bedroom units and 267 parking spaces. The estimated total investment is approximately $30 million. The DBRA approved a TIF plan that will allow recovery of nearly $5 million for eligible activities.
- Midtown Properties LLC is the developer of the 3800 Woodward Redevelopment Project, the new Wayne State University (WSU) Physician Group Medical Office Building including retail, office and medical facilities. This project entails a newly constructed, four-story, 195,000-square-foot, mixed-use building and a 624-car parking deck in Midtown. The estimated total investment is about $73 million. The DBRA approved a TIF plan that will allow the developer to recover up to about $8 million for eligible activities
- Queen Lillian II, LLC, is the developer of the Queen Lillian Project which entails a mixed-use development at 3455 Woodward Avenue and 13 Stimson Street in Midtown. The project will include about 25,000-square-foot of retail and 68 one- and two-bedroom apartments with a 230-car parking deck. The estimated total investment will exceed $33 million. The DBRA approved a TIF plan that will allow recovery of up to about $5 million for eligible activities.
Under the brownfield redevelopment financing act, tax increment financing (TIF) can be used to redevelop properties that qualify as contaminated, blighted, functionally obsolete, or as a historic resource. TIF is a very powerful urban redevelopment tool as these properties illustrate.
Vice president, Board Administration