LANSING, MI (WHTC-AM/FM) – A major commercial renovation project underway in downtown Holland is getting a shot in the arm from Lansing.
Geenen DeKock Properties, which is redeveloping 23 properties in several phases in an area flanked by 8th and 9th streets, River and Pine avenues, was approved for a one million-dollar Michigan Community Revitalization Program performance-based loan participation award by the Michigan Strategic Fund board on Tuesday. This will aid in initially constructing a new mixed-used building and the renovation of the Holland Sentinel structure, with future plans for up to five more mixed-use buildings, a multiplex theatre and a parking deck.
According to the developers, the project is projected to generate a total capital investment of 40 million dollars and create 80 full-time jobs. In a related move, the MSF board also approved a plan by the city of Holland’s Brownfield Redevelopment Authority to capture a total of over 17.7 million dollars in local and school taxes at the site.
Statewide, the MSF Fund approved what the agency called “a wide range of projects” totalling more than 455 million dollars in capital investment and creating over 26 hundred jobs. This includes the Good Jobs for Michigan incentive program guidelines and process that was created under a law signed by Governor Snyder last month.
