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CWD project in Wyoming secures $635,000 in brownfield funding to aid cleanup COURTESY PHOTO

CWD project in Wyoming secures $635,000 in brownfield funding to aid cleanup

BY Tuesday, February 05, 2019 10:00am

WYOMING — The state will help fund the cleanup of a contaminated former dry cleaner in Wyoming to make way for a redevelopment project.

The Michigan Department of Environmental Quality on Friday approved a $202,000 grant and $433,000 loan for the Wyoming Brownfield Redevelopment Authority for the site along 44th Street SW, adjacent to the Ramblewood Apartment complex.

A subsidiary of CWD Real Estate Investment LLC, CWD 2757 44th LLC, purchased the three adjacent properties at 2757, 2759 and 2761 44th Street SW for $1.2 million in 2017, as MiBiz first reported. At the time, CWD said it expected to demolish multiple buildings on the site.

The Grand Rapids-based real estate development and property management firm plans to redevelop the site with a new hotel, commercial, restaurant and retail space.

The $20.3 million redevelopment is expected to create 50 new full-time and 50 new part-time jobs. The brownfield redevelopment authority will reimburse some project costs from the developer’s future property taxes, according to the DEQ.

For CWD, the project is an extension of its nearby Bucktown retail development featuring anchor tenants Target and Cabela’s and located just to the west on 44th Street SW in Grandville, Managing Partner Sam Cummings told MiBiz for a previous report.

Read 5518 times Last modified on Tuesday, 05 February 2019 10:22