Lansing, MI – The Michigan Economic Development Corporation and Governor Gretchen Whitmer announced that six communities, including Milan and Ypsilanti, are receiving funding to build 60 new homes and additional space for businesses.
The projects are expected to generate a total capital investment of nearly $18 million in a total of six Michigan towns.
Five Penny Properties, LLC plans to rehabilitate two historic buildings on Main Street in downtown Milan. One project will completely restore the historic façade of the building and make interior improvements including new electrical, mechanical and plumbing systems.
When completed, the development will maintain the current tenant, a dental office, on the first floor and the second floor will include two new residential units.
The second project in Milan will completely renovate a one-story building, activating a vacant storefront. The exterior will have full brick restoration, a new storefront and new roof.
Renovare Ypsilanti Homes will construct 46 for-sale single family homes on a 4.5 acre site near Depot Town in the city of Ypsilanti.
The project will create a dense, walkable neighborhood on a vacant parcel.