Detroit’s Wurlitzer Building renovation will create 48 jobs
DETROIT — HM Ventures Group 6 plans to renovate the vacant, historic Wurlitzer Building located in the heart of downtown Detroit into a mixed-use boutique hotel. The completed project will include 106 hotel rooms, a street level café, restaurant, retail and meeting space and a rooftop bar. The project will generate a total capital investment of nearly $22.3 million and create 48 permanent full-time jobs. The project received a Michigan Community Revitalization Program performance-based loan.
In addition, Michigan Strategic Fund approved local and school tax capture to the Detroit Brownfield Redevelopment Authority to alleviate brownfield conditions and prepare the site for redevelopment. Invest Detroit has committed a New Market Tax Credit allocation, and Chase Bank is providing additional NMTC allocation to the project. The project will also generate federal historic tax credits.
Source: MEDC news release