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June 1, 2015
Construction on the Capitol Park Lofts project in the former Capitol Park Building at 1145 Griswold St. has begun.
Mayor Mike Duggan, Jamie Dimon, CEO and chairman of New York-based J.P. Morgan Chase & Co., which provided a portion of the project financing, and others were expected at 11 a.m. Monday to hold a formal groundbreaking for the project, which would result in another 63 apartments and 19,000 square feet of retail space downtown.
The building, which is being redeveloped by Lansing-based Karp and Associates, is about 72,000 square feet at Griswold and State streets.
In February, the Michigan Strategic Fund awarded $1 million in Michigan Community Revitalization Program incentives for the $22.7 million project, which is expected to create about 60 jobs.
To read the full Crain’s Detroit Business article click here.
