Uptown Development Secures Brownfield Funding
July 28, 2014
Grand Traverse County was recently awarded $880,000 in Community Development Block Grant funds from the state for demolition/blight removal for the Uptown development at 144 W. State and 133 W. State in downtown Traverse City. Though the project has been delayed, the finished project will consist of multi-story condominium units as well as "live work" mixed use units.
In addition to the state fund, the county's Brownfield Redevelopment Authority will use local and school tax capture valued at $1.7 million for extensive site preparation activities, such as geotechnical engineering, land balancing, relocation of existing utilities and infrastructure improvements. The total investment will be approximately $11.8 million and 12 permanent full-time jobs are expected to be created for the live/work portion of the project.