Bringing new life to approximately 4.2 acres of blighted, contaminated property on Michigan Avenue in Lansing, Michigan, Capital City Market will add a four-story mixed use building consisting of an urban grocery market, market-rate residential units, and a hotel. The Michigan Strategic Fund is supporting the project with an MCRP award, allocated under the neighborhood and commercial corridor food initiative funds, to support the urban market and residential units. The entire project is also supported with Brownfield Tax Increment Financing. The $41,500,000 project is being completed by Gillespie Group. Two Qualified Opportunity Zone Businesses were created specifically to complete this catalytic project. Both are receiving a portion of their capital from Qualified Opportunity Funds.
