Mixed-use development in downtown Muskegon gets $1.5 million in state funding
The state of Michigan is providing funding assistance for a new mixed-use development in downtown Muskegon.
The Michigan Strategic Fund voted Tuesday to award Sweetwater Development Partners LLC financial assistance in the amount of $1.5 million through the Michigan Community Revitalization Program.
The request supports an $8.9 million project that includes a six-story mixed-use building called The Leonard at 292 W. Western Ave., on the corner of Second Street and Western Avenue.
Sweetwater Development is planning to construct a 51,565-square-foot building that will contain first-floor retail space, second and third-floor office space and 18 one-bedroom and two-bedroom units on the remaining three floors.
The property is part of the former Muskegon Mall area. The mall was demolished in 2001. It was previously owned by the Downtown Muskegon Development Corp., whose mission was to acquire the former Muskegon Mall properties and prepare the sites for future redevelopment. This site is also within an Opportunity Zone and has been approved by the Muskegon City Commission for a 15-year Neighborhood Enterprise Zone tax exemption.
Sweetwater Development, owned by Corey Leonard, previously developed the property at 605 W. Western Ave., which is now Muskegon Radiology. Leonard is also the owner of Grand Haven-based Big Signs, a graphics and sign company.
Posted By: MiBiz on December 17, 2019. For more information, please click here to read the source article.
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