PONTIAC, Mich. (Michigan News Source) – The city of Pontiac will give $100,000 of federal pandemic relief money to a private developer to fix up a vacated older complex that has sat empty for 20 years.
The city is also willing to make a deal with the developer to give him a 17-year exemption on paying property taxes as that abandoned complex is qualified as a “historic building.”
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Developer Coleman Allen LLC has plans to rehabilitate the Casa Del Rey Apartments in Pontiac and replace it with a 50-unit apartment building at a cost of $12.2 million. The city said the old Casa Del Rey Apartments have sat vacant and in a state of disrepair for 20 years. The project would take 18-to-20 months, according to the city.
The $100,000 is part of the federal American Rescue Plan Act money the city was given in 2021 to deal with the COVID-19 pandemic.
“This redevelopment is anticipated to help address Pontiac’s housing crisis by
increasing the availability of affordable housing options,” the city stated in documents provided to the City Council at its Jan. 21 meeting.
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