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MEGA awards $11.1 million in tax breaks for area redevelopment

By Amy Lane

Nov. 16, 2004 2:13 PM

Two Detroit brownfield-redevelopment projects and an Auburn Hills automotive expansion are moving forward with the help of $11.1 million in tax breaks awarded by the state Tuesday.

The Michigan Economic Growth Authority board approved a $3.8 million brownfield single-business-tax credit for a $50.5 million redevelopment at Woodward and Michigan avenues near the new Campus Martius park. Developer 1001 Woodward Office L.L.C. and two other partners plan to demolish vacant buildings to construct a parking structure with 18,000 square feet of retail space on the first floor. They also plan to upgrade an adjacent 21-story office building at the northwest corner of Campus Martius and convert the upper floors into residential condominiums.

The MEGA board also approved a $5.6 million brownfield SBT credit for a $56 million redevelopment of a 7-acre former mobile-home park along the riverfront on Detroit

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