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Detroit, MI (2008)

Argonaut

Conversion of a historic GM building into a 760,000 sq. ft. mixed-use educational facility.

Investment

  • NMTC Amount: $67,360,100
  • Total Project Cost: $155,845,511

IMPACT

  • 430 FTE jobs
  • 210 construction jobs
  • 300 students served with arts programs and 900 students served by the new schools.
  • 760,000 sq. ft. of real estate

Investor

https://www.youtube.com/watch?v=Fl4Bdw2nxnc

Project Description

An arts and design College and dorm, Charter Middle/High School and business accelerator: Located in downtown Detroit, MI, The Argonaut project converted a historic GM building into a 760,000 sq. ft. mixed-use educational facility. The College of Creative Studies’ expansion campus features educational facilities for undergraduate and graduate programs, residential facilities for up to 300 students and an arts and design middle and high school serving approximately 900 students annually. The project achieves LEED Certification for Existing Buildings, incorporates sustainability features, and may incorporate alternative energy generation once construction is complete. Six NMTC allocatees were involved in the transaction to overcome long-standing development hurdles.

MAP

Address: 485 West Milwaukee Avenue, Detroit, MI 48202

Census Tract: 26163533900

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