Placemaking & Finances. MBA Annual Convention June 19, :35am 10:30am
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1 Placemaking & Finances MBA Annual Convention June 19, :35am 10:30am
2 Welcome and Introductions Sue Mosey, Midtown Detroit
3 MIDTOWN DETROIT PLACEMAKING June 2015
4 CASS CANFIELD DISTRICT Community Gardens Midtown Detroit - Placemaking
5 CASS CANFIELD DISTRICT Business Development The Auburn Midtown Detroit - Placemaking
6 CASS CANFIELD DISTRICT Dog Park Midtown Detroit - Placemaking
7 CASS CANFIELD DISTRICT Business Development - Willys Commercial Midtown Detroit - Placemaking
8 CASS CANFIELD DISTRICT Green Alley Midtown Detroit - Placemaking
9 Placemaking & the MEDC s Role Mark Morante, MEDC
10 Financing Placemaking Projects Richard Lievense, Insite Capital
11 Midtown Village Apartments Holland, MI 38 mixed-income senior apartments (100% occupied) Funded by Federal Historic and Low Income Housing Tax Credits Completed October, 2011
12 Lofts on Ludington Escanaba, MI (2012 Governor s Award for Historic Preservation) 15 market-rate apartments and three women-owned businesses Funded by Federal Historic Tax Credits, Michigan State Brownfield Tax Credits, Michigan State Historic Tax Credits, MSHDA Facade Grant, MSHDA Rental Rehabilitation Grant, New Markets Tax Credits, Construction Loan Completed 2012
13 Village Park Apartments Detroit, MI 56 affordable apartments (98% occupied) Funded by Federal Historic Tax Credits, HUD funding, Neighborhood Stabilization Program Completed December, 2012
14 100 Commerce Grand Rapids, MI 31 market rate apartments and commercial space (100% occupied) Funded by Federal Historic Tax Credits, Michigan State Historic Tax Credits, Brownfield Grant, DDA BRIP Funds, Bridge Loan Completed December, 2012
15 Thomas Edison Inn Port Huron, MI (Now DoubleTree by Hilton Port Huron) 149-room upscale hotel Led to additional $30 million development in the area, including construction of a culinary school and convention center Funded by Construction Loan, New Markets Tax Credits, USDA Business and Industry Guarantee Completed September, 2013
16 Apple Blossom Apartments Iron River, MI 22 affordable apartments Funded by Low Income Housing Tax Credits, HOME funds, Construction Loan Completed Spring, 2014
17 Lake Pointe Apartments Hart, MI 25 affordable senior apartments (100% pre-leased when opened) Funded by Low Income Housing Tax Credits, Bridge Loan, Construction Loan Completed September, 2014
18 Brentwood Apartments Detroit, MI 38 market rate apartments (100% occupied) Funded by Federal Historic Tax Credits, Construction Loan, Permanent Loan Completed Summer, 2014
19 Murphy Hall John Carroll University 400-bed campus residence hall Funded by Federal Historic Tax Credits, Ohio State Historic Tax Credits Completed Fall, 2014
20 Bohm Theatre Albion, MI (2015 Governor s Award for Historic Preservation) 400-seat, single-screen theatre Funded by Federal Historic Tax Credits, Community Development Block Grant, Bridge Loan Completed October, 2014
21 Morrison-Calumet Apartments Calumet, MI 13 mixed-income apartments (100% occupied) and commercial space Funded by Federal Historic Tax Credits, MSHDA Rental Rehabilitation Grant Completed September, 2014
22 Kerr Building Coldwater, MI 14 mixed-income apartments and commercial space Funded by CDBG Grant, CDBG Revolving Loan, Coldwater DDA Grant, Federal Historic Tax Credits, Michigan State Brownfield Tax Credits, Michigan State Enhanced Tax Credits, Michigan State Historic Tax Credits, MSHDA Rental Rehabilitation Grant Completed April, 2015
23 Gateway Apartments Fremont, MI 38 mixed-income senior apartments Funded by Brownfield Grant, Construction Loan, Federal Historic Tax Credits, Low Income Housing Tax Credits, Michigan Housing and Community Development Fund Grant, PILOT Completed May, 2015
24 Granville Inn Granville, MI Historic inn and restaurant Funded by Federal Historic Tax Credits, Ohio State Historic Tax Credits Completed May, 2015
25
26 The Woda Group and Placemaking Craig Patterson, The Woda Group
27 Placemaking in the UP
28 Placemaking in the UP Before
29 Placemaking in the UP Before
30 Placemaking in the UP After Before
31 Placemaking in the UP After Before
32 Placemaking in the UP After Before
33 Placemaking in the UP After Before
34 Placemaking in the UP After Before
35 Placemaking in the UP After
36 Placemaking in the UP After
37 Placemaking in the UP After
38 Snyder: Lloyd House is a perfect example of Placemaking!
39 Lloyd House Finances Total Investment: $11.1M LIHTC $7.9M Federal Historic Credits: $1.7M R/D 538 Guarantee Loan PILOT Tax Abatement
40
41 Questions? Thank you!
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