A number of major developments around the state were approved by the Michigan Strategic Fund on On Tuesday May, 22, 2018. Among those, is one currently under construction on West Western Avenue in Muskegon.
351 W. Western LLC and Great Lakes Development Investments, Inc. is building a six-floor, mixed-use building on .17 acres. Once it is completed it will include retail and office space along with residential market-rate apartments.
The project is expected to create the equivalent of 29 full-time jobs and generate a total capital investment of nearly $7.3 million. The state is assisting developers with a $1.5 million Michigan Community Revitalization combination grant and loan.
The project is the first-phase of what is expected to become a three-phase development built on vacant adjacent land. It is expected to serve as a catalyst for additional revitalization in downtown Muskegon.
Developers Christopher Benedict and Joshua Canale hope to open the first two floors of their Lake View Lofts project this summer, with the residential floors opening in the fall.
The name of the restaurant on the first-floor will likely be announced in June.
Lake View Lofts includes market-rate apartments on the third through sixth floors.
Muskegon city commissioners approved a Neighborhood Enterprise Zone for the project. That provides a tax reduction on the residential portion of the development. The project is being built on a lot where a portion of the Muskegon Mall once stood.
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