MA St. Louis-based development company is planning a $55-$60 million mixed-use development with about 500 residential units and retail space on the Detroit riverfront. The two-phase Rivertown development would be along Atwater and Franklin streets between the Dequindre Trail Greenway and Riopelle Street.
The Community Revitalization Program provides grants, loans or other economic assistance of up to $10 million to projects that will revitalize regional urban areas, act as a catalyst for additional investment in a community, reuse brownfield and/or historic properties, and promote mixed use and sustainable development.
The nonprofit Detroit RiverFront Conservancy estimates there has been more than $1 billion in public and private investment — including projects underway or planned — along the riverfront in the last decade.
The study found that Detroit riverfront developments have supported 16,700 construction jobs and provide continuous, annual support for 1,300 jobs.