Uptown Reinvestment Gets Additional Funds to Demolish Genesee Towers
Uptown Reinvestment Corp. has received additional funding from the State of Michigan and City of Flint to help with the demolition of the Genesee Towers.
The funds – $5.65 million from the state and $880k from the city – will also go to other projects including the redevelopment of the former Flint Journal headquarters and the relocation of the Flint Farmers Market.
The state money is split two ways. One-million of it is a grant. The remaining funds are a 30-year loan with low interest rate. The $880k from the City of Flint is a grant for community development.
The renovation of the former Flint Journal headquarters will make way for Michigan State University’s Flint Public Health & Medical Campus.
According to MLive, the project is expected to generate a total capital investment of almost $30 million and will crate 75 full-time jobs.