Michigan Bell Building, Detroit, Mich.

Michigan

DEVELOPER:

Neighborhood Service Organization (NSO)

BACKGROUND:

The 273,300 square-foot, 12-story structure was built between 1929-1930 as the Michigan Bell and Western Electric Warehouse. It was described as “one of the largest and most complete plants of its kind in the Bell System." NSO is rehabilitating the Art Deco-style structure for use as headquarters for their social services programs and for 155 units of supportive housing targeted to the chronically homeless. The project is expected to be completed by fall 2012.

TOTAL DEVELOPMENT COST

$37.1 million

KEY FINANCING:

  • Federal and state historic tax credits
  • Federal Low-Income housing tax credits
  • Federal Brownfields tax credits

IMPACT:

  • Projected impact includes 232 construction jobs, 299 permanent jobs, and $878,400 in local taxes and $1,158,200 in state taxes
  • 155 units of supportive housing, including mental health, addiction treatment, financial literacy, nutrition classes and other on-site support
  • The addition of new residents and approximately 200 NSO employees will increase customer traffic for local businesses and spur opportunities for the creation of new businesses in the community.