The Michigan Economic Development Corp. (MEDC) announced this week that the Michigan Strategic Fund (MSF) board has approved incentives to Sweetwater Development Partners, LLC to aid in their expansion and creation of jobs in the greater Muskegon-area. The company has been awarded a $1.5 million performance-based loan participation from the Michigan Community Revitalization Program for the construction of a new, six-story, mixed-use building in the heart of downtown Muskegon in the former Muskegon Mall area.
The development will include first-floor retail space, second and third-floor office space and residential apartments. The lot is currently vacant, and this project will be crucial in continuing the momentum of the revitalization of downtown Muskegon by providing market-rate residential apartments as well as commercial space.
The project is expected to generate a total capital investment of $8.9 million and create approximately 61 new jobs. In addition, the city of Muskegon Brownfield Redevelopment Authority received approval of over $2.5 million for the remediation of industrial remnants left at the site.
State Rep. Terry Sabo (D-Muskegon) welcomed the news and noted that the development is expected to result in a total capital investment of $8.9 million and create approximately 61 new jobs. “Downtown Muskegon is the fastest growing community in the state of Michigan and will continue that growth with this development,” Sabo said. “It gave me great satisfaction to address the Michigan Strategic Board in support of this project and about Muskegon’s tremendous growth over the last few years.”
“The Michigan Community Revitalization Program is designed to increase investments in areas that have historically been overlooked and this project does exactly that,” said Sen. John Bumstead (R-Newaygo). “... I applaud and thank everyone who had a hand in securing this funding, and I know residents will join me in welcoming this new development to our area.”
- Posted December 20, 2019
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MEDC approves incentives to new Muskegon development
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