Thursday, January 24, 2013

Conyers Applauds $8.5 Million Renovation Funding for the David Whitney Building

U.S. Representative
John Conyers, Jr.

 (DETROIT) – Today, the Michigan Strategic Fund approved a $1 million Michigan Community Revitalization Program performance-based grant and a $7.5 million loan to Whitney Partners, LLC for the renovation of the David Whitney building in Detroit. The Michigan Community Revitalization Program is managed by the Michigan Economic Development Corporation, a public-private partnership supported by a state appropriation from the Michigan Strategic Fund. Congressman John Conyers, Jr. (D-Mich.) issued this statement following the announcement:

“I am delighted that $8.5 million in performance-based grant and loan funding has been provided to a local real estate development company, through a public-private partnership, for the renovation of the David Whitney building,” said Conyers.

“This funding will go towards the construction of 108 residential apartments, 135 hotel rooms, and the creation of 75 permanent full-time jobs. In addition, this renovation project will restore the community’s access to the Detroit People Mover, and will bring in investment capital of $82.5 million.

“I commend the Michigan Community Revitalization Program for their innovative public-private partnership model that addresses local challenges. This project has the potential to be an integral part of the continued revitalization of our great city.”

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