Redevelopment projects to bring new apartments, retail spaces to Ferndale, Southfield
New housing projects in Ferndale and Southfield are among those receiving State of Michigan funding and support through the Michigan Strategic Fund Board.
Gov. Gretchen Whitmer made the announcement Tuesday, saying the projects in those cities, along with one in Muskegon, fit in with the state's 'Make It in Michigan' economic development strategy.
"With support from the MSF Board, we're turning empty spaces into vibrant places, adding new housing, commercial space, and parks," Whitmer said in her statement.
Details are as follows:
Ferndale's Vester Flats project
A space that is now a blighted parking lot will be converted into a mixed-use project, providing 72 new housing units in the City of Ferndale.
The Vester Flats development on Vester Street will be a four-story, multi-family project that also includes commercial space. There will be 45 studio units, 21 one-bedroom units and six two-bedroom units. A total of 54 parking spaces will be included under and behind the building.
The project has a total anticipated capital investment of $22,252,990. The city Ferndale has supported the project financially. The MSF board approved a Michigan Community Revitalization Program loan of $3,950,000 to support the effort.
An updated streetscape, along with public art, will add to the upgrades to water and sewer services in the area.
The development team is led by Matthew Walters.
"The City of Ferndale is excited to support this mixed-use, transit oriented, workforce housing project within our downtown corridor," said City of Ferndale Community and Economic Development Director Roger Caruso. "This will make a real impact on people who want to live, work, and play in our city."
Southfield's Middlepointe Project
Funding was approved to support a Transformational Brownfield Plan that calls for a walkable, high density, mixed-use development along currently vacant land in the center of City of Southfield.
The project will add 577 new residential spaces, along with commercial space, a parking deck and ground-floor retail. There will also be two pocket parks and a pedestrian greenway.
The City of Southfield Brownfield Redevelopment Authority and developer Middlepointe Investment Group LLC worked on the plans.
The total capital investment is $209,552,970; the state brownfield plan package is for $131,822,436.
"This is more than a redevelopment — it's a rebirth," said Southfield Mayor Dr. Ken Siver. "The Middlepointe project will bring much-needed residential density, economic activity, and walkability to our City Centre."
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Sentences can result in restitution and jail time. Payroll taxes, including withholding, should be immediately set aside to be paid over to the tax authorities—I always recommend maintaining a separate account for this purpose. However, it can be tempting for some business owners to dip into those funds when cash is low. They often figure that they'll just 'borrow' the money now and put it back later. For many business owners, later never comes. Instead, tax liabilities multiply. The solution for most businesses? Hire a payroll company. Outsourcing payroll to a payroll company can be a significant time-saver for small businesses. Payroll companies will figure out how much is owed for federal, state, and local purposes and can remit payments straight from your checking account. They can also create reports and coordinate with your bookkeeper or tax preparer to help ensure that you, your employees, and the tax authorities get paid on time. Now that you know whom you need, how do you go about assembling your team? Here are some tips: When you identify someone who might be a good fit, set up a time to ask questions about their background, work processes, timelines, and style . As you add members, remember that you're building a team, not a group of strangers. While your team doesn't have to be best friends, you should make sure that the folks you choose feel comfortable communicating with each other. If your bookkeeper won't schedule time to talk to your tax preparer, it creates more work for everyone. And if your tax attorney crafts a great benefits plan for your business but fails to communicate the specifics to your retirement broker, the plan is meaningless. Don't be afraid to explain that you're not happy or let someone go if they're not working out—if they're not willing to be part of your team, they're not useful to you.
