Eastern Market food hub among projects awarded tax incentives
A mixed-use food hub planned for Detroit’s Eastern Market is another step closer to construction after the Michigan Strategic Fund board on Wednesday approved $2.2 million in state tax incentives for the project.
The Mosaic Eastern Market Redevelopment Project will rehabilitate a 111,855-square-foot industrial building at 3500 Riopelle. Once complete, it will house Eastern Market Corp.’s accelerator for food entrepreneurs, a mix of food-based businesses, and 16,680 square feet of restaurant space, according to the Michigan Economic Development Corp.
Construction will be done in phases starting in the spring, said Malik Goodwin, project executive with Riopelle Market Development and developer of the food hub.
The food accelerator will occupy its space first, Goodwin said. Most of the building will be completed by mid-2021 and could include a mix of restaurants, breweries and professional service firms.
"This will be a unique destination on the northeast quadrant of the district," he said. "We think given its location to Mack and I-75, it will be a nice destination for people."
The food hub is among three Detroit community vitality projects the Michigan Strategic Fund board approved for incentives Wednesday.
The projects will "help continue to grow vibrant spaces throughout the city for residents and visitors alike," said Jeff Mason, chief executive officer of the MEDC.
The MSF board approved $1.6 million in state tax incentives for a mixed-use development planned for 7891 East Jefferson. The project, known as Jefferson Van Dyke 2 LLC, will also receive a $3.3 million Michigan Community Revitalization Program performance-based loan.
The development in the city's West Village neighborhood will include commercial space and 36 residential units of mixed-income housing. The project involves the demolition of a parking structure, construction of a mixed-use building and rehabilitating surrounding buildings.
The Osi Apartments at West End, a mixed-use development planned for 3820 Grand River, was awarded nearly $195,000 in state tax incentives Wednesday as well as a $1.2 million Michigan Community Revitalization Program performance-based loan.
The project involves the construction of a four-story, mixed-use building along the Grand River corridor in the Woodbridge neighborhood. When complete, the development will include retail space and 30 units of mixed-income residential housing, according to the MEDC.