BATTLE CREEK — Management and development company LKV Ventures LLC will use a grant from Battle Creek Unlimited to help renovate a historic building in downtown Battle Creek.
The $240,508 grant from the downtown Real Estate Improvement Fund will allow Battle Creek-based LKV Ventures to white-box the first floor of the property at 70 E. Michigan Ave. to make way for commercial tenants. The second and third floors will include two one-bedroom apartments and a two-bedroom apartment.
“Without the downtown Real Estate Improvement Fund grant, the complete renovation of the historic 70 E. Michigan building would not have been possible,” Sarah Versical, director of project development for LKV Ventures, said in a statement. “This funding allows us to keep a piece of Battle Creek history and give this building the necessary updates to make it a safe and desirable home for the next generation of downtown Battle Creek businesses and residents.”
The Real Estate Improvement Fund aims to address hurdles faced by companies that want to invest in downtown Battle Creek, with a focus on revitalizing vacant space, improving code compliance, resolving structural and mechanical issues and supporting other upgrades to bring locations back to productive use.
Economic development group Battle Creek Unlimited is using $2 million awarded by the W.K. Kellogg Foundation in June to establish and administer the fund.
LKV Ventures anticipates the project will be completed in less than 12 months.