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State to loan money for downtown Grand Rapids movie theater project

Developers of Studio C! told MiBiz the state getting involved was the final financial hurdle for project.

GRAND RAPIDS, Mich. -- State funds will now help put a movie theater downtown.

According to MiBiz, the board of the Michigan Strategic Fund has agreed to provide a $5.5 million loan from the Michigan Community Revitalization Program to the developers.

The loan will cover about 7% of the total development cost.

As we've been telling you, Studio C! will include not only a cinema, but also apartments, a hotel, office space, retail space, and a parking deck.

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Matt Gard is the Senior Producer of the 13 Morning News. If you have a story idea, you can contact him on Twitter, @mgard_wzzm13 or by e-mail, MattGard@wzzm13.com.

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