State Rep. Mike McCready today announced Woodward Brown Associates, LLC has received a $3.2 million incentive through the Michigan Community Revitalization Program.
The performance-based loan participation will go towards the construction of a new five-story, mixed-use structure on the corner of Woodward Avenue and Brown Street in Birmingham. The building, which will be known as the Balmoral, will be a combination of commercial, retail and residential space.
Woodward Brown Associates, LLC expects the project to generate $27.8 million in capital investments and a number of new jobs in the area.
“It’s great to see a Michigan-based company working to bring new businesses and jobs to the area,” said McCready, R-Bloomfield Hills. “It’s a great sign of a healthier economy, and it will only continue to make Birmingham a better place to live and do business.”
The Michigan Community Revitalization Program is an incentive program designed to promote community revitalization and private investment as well as generate jobs and redevelop functionally obsolete or historic properties.