MUSKEGON, Mich — A proposed Muskegon waterfront revitalization project just got a big financial boost from the state.
The Muskegon Brownfield Redevelopment Authority learned Tuesday that the Michigan Strategic Fund approved more than $14 million in state tax capture.
The land is currently a combination of public and private access on Muskegon Lake.
The plans include improvements to the current bike trail, break wall and fishing pier, as well as boat storage, a full-slip marina, a hotel, condos and retail space.
The city of Muskegon is supporting the project through the approval of local tax capture, valued at $18.1 million. The city is certified with MEDC’s RRC program.
The project is expected to generate a total capital investment of $85 million and create 100 full-time equivalent jobs.
“I am thrilled with the Michigan Strategic Fund’s decision to approve the City of Muskegon Brownfield Redevelopment Authority request for the Adelaide Pointe project,” said State Sen. Jon Bumstead. “This project cleans up critical shoreline along Muskegon Lake and once completed it will provide Muskegon residents with a new space to live, work and play.”
Developers say the project will increase public access to Muskegon Lake and create new waterfront dining and retail options. In addition to revitalizing underutilized, contaminated waterfront property, developers say the project will create a walkable mixed-use district that incorporates public access to waterfront activities and inviting greenspace areas.
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