As announced by the Michigan Economic Development Center:
The Michigan Strategic Fund has approved a $1.5 million Michigan Community Revitalization Program performance-based grant to support the Wrigley Center Development Project, which will renovate and expand a vacant, functionally obsolete one-story building in downtown Port Huron. The completed development will consist of a four-story building including 36 mixed-income residential units and commercial space that will contain multiple tenants including the Port Huron farmers’ market. The project will also include multi-level parking and public improvements including sidewalks and the space occupied by the farmers market. The project is expected to generate a total capital investment of $14.4 million and create 45 full-time equivalent jobs. The Port Huron Brownfield Redevelopment Authority also received MSF approval of $689,143 in state tax capture to be used to reimburse for brownfield remediation activities.
The city of Port Huron is supporting the project by approving the local portion of the Act 381 Work Plan valued at $981,507 and a 10-year Obsolete Property Rehabilitation Act tax abatement valued at $2.7 million. St. Clair County has also agreed to sell the property to the developer for less than the appraised value. The developer has partnered with the Community Foundation of St. Clair County, which will be contributing $350,000 in the form of a direct equity investment as well as a forgivable loan.
View Full MEDC Press Release
Another recent article about this project from the Times Herald can be viewed here.
The Economic Development Alliance of St. Clair County is proud to be be one of the local partners involved in helping project Wrigley and developer, Larry Jones. The EDA provides confidential, complimentary site selection assistance, incentive coordination, and support to local businesses to grow our local economy. edascc.com
