KALAMAZOO, MI (WKZO AM/FM) — Three developments aimed at keeping businesses in West Michigan, including one in Kalamazoo, cleared a state hurdle Tuesday.
The Michigan Economic Development Corporation’s Strategic Fund Board approved work and funding on the $4.85 million revitalization loan for an ongoing project in downtown Kalamazoo. The board also approved the city of Kalamazoo’s plans to capture $1.82 million in state taxes to reimburse developers for the first phase of the $26.2 million development at 400 S. Rose St., which was completed in 2020.
The second phase of construction is planned to include 91 market-rate apartments and 10 units for workforce housing as well as commercial space and underground parking at the site. Construction is expected to start later this spring.
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