Gov. Gretchen Whitmer on Tuesday joined the Michigan Economic Development Corporation in announcing Michigan Strategic Fund (MSF) approval of projects that will build on Michigan’s commitment to placemaking, helping revitalize communities, and further enhancing the state’s site readiness efforts to attract projects and population growth.
“Today’s projects will make cities and towns across Michigan better places to live, work, and invest,” said?Whitmer. “With today’s shovel-ready site in Mundy Township, new housing and commercial space in Flint, Grayling, Tecumseh, and Kalamazoo, and more accessible resources for travel, we are delivering on our comprehensive economic development strategy.”
Strategic Site Readiness Program Funds Awarded to Flint and Genesee Group Foundation to Further Support Site Preparation Efforts at Advanced Manufacturing District in Mundy Township.
The MSF board approved a request from the Flint and Genesee Group Foundation for assistance from the Strategic Site Readiness Program (SSRP) to support land acquisition and infrastructure development activities at the Advanced Manufacturing District (AMD) of Genesee County site in Mundy Township. As the state’s largest available greenfield site, the AMD consists of nearly 1,000 acres of land, serving as a highly desirable location to attract transformational projects in critical industries, including EV/battery, semiconductor, clean tech/energy, and defense/aerospace.
The $250 million in approved SSRP funds builds on last month’s $9.2 million in SSRP support and will enable the Flint and Genesee Group Foundation to bolster their capacity to attract business investment in the area. With very few sites of more than 1,000 acres remaining nationwide, the Advanced Manufacturing District stands to be highly sought after, particularly with this additional site development to support land assembly and infrastructure development.
The AMD of Genesee County is in the heart of Genesee County, a vibrant community centered around the birthplace of General Motors. The area boasts a rich manufacturing heritage, a ready workforce, strong talent pipelines, renowned local universities, and the infrastructure assets an industrial user requires.
The development of the AMD aims to lead to the creation of thousands more jobs and billions of dollars of investment in Genesee County, ensuring the local community will be poised to grow as a thriving hub for Michigan’s core economic industries.
At Monday’s MSF meeting, Flint also received support through an increase in Revitalization and Placemaking (RAP) funds for projects in its downtown, further adding vibrancy and opportunity within the region.
The MSF board approved a request to authorize a total of up to $11,750,000 in federal RAP funds to support two new grant awards and an increase of a third grant award to support important economic development projects in Flint, Grayling, and Tecumseh.
The MSF board also approved support for the conversion of a vacant commercial building into a mixed-use site in Downtown Kalamazoo.
Once completed, the project will add a ground-level restaurant and 82 new residential units – over 40 percent of which will be priced as attainable housing – contributing to Kalamazoo County and the City of Kalamazoo’s efforts to significantly increase housing in the area.
PlazaCorp, the developer, has redeveloped several functionally obsolete, blighted, and contaminated properties over the last several decades, leveraging a combination of Michigan Community Revitalization Program (MCRP) grants, loans, and/or state tax increment financing (TIF). The company’s portfolio of Kalamazoo properties includes the Spearflex Block, Kalamazoo Hotel Partner’s Hilton Garden Inn, and the Exchange Building.
The project, supported by a $4.875 million MCRP performance-based loan, represents a total investment of $32.7 million. TIF in the amount of $401,902 was also approved to address brownfield conditions on the vacant property.
The redevelopment of this property in Kalamazoo will help add residential density to the area in a walkable, mixed-use district, further enhancing the vitality and vibrancy of the downtown community.
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