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$23.25 million investment could bump up downtown Battle Creek cool factor
Kathy Jenning
|
Thursday, September 19, 2013
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The Heritage Tower in downtown Battle Creek, a 19-story building that has been vacant for a number of years, recently has moved one step closer to being redeveloped.
Grand Rapids-based 616 Development plans for the building to have a mix of commercial and residential development. The lower floors of the building are to be converted into retail, reception/conference space, and boutique hotel rooms. The upper floors will be redeveloped into market-rate, loft apartments. Tenant parking will be created in the basement of the Tower.
616 Development
expects 150,000 square feet of space to be returned to use in the building, including 43 hotel rooms, 62 apartments and 55 underground parking spaces. The project is anticipated to be completed by Spring 2015.
"This development is a game changer for downtown and it has already peaked interest from other developers seeking to be part of the excitement," says Cheryl Beard, Director of Commercial Development, Battle Creek Unlimited.
Redeveloping the Heritage Building moved closer to becoming a reality with the recent City Commission approval of a Brownfield Redevelopment Plan for the property. Approval helps make development of property affordable by routing taxes generated by the completion of the project to the Brownfield Redevelopment Authority to reiburse the project's owner, in this case, 25 Michigan Holdings, which is part owned by 616 Development. Baseline environmental assessment, asbestos abatement, demolition, infrastructure improvements, site preparation, general preparation of a Brownfield Plan and interest expenses are the types of expenses that can be paid under such a plan.
"Battle Creek is a downtown filled with potential thanks to strong leadership from the community and local officials," says Derek Coppess, founder of 616 Development. "We are thrilled to be partners in the amazing Downtown Transformation that is taking shape."
Writer: Kathy Jennings, Second Wave Media
Source:
Alyssa Jones, Battle Creek Unlimited
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