Last week, the Hamtramck Brownfield Redevelopment Authority granted Brownfield Plan Approval for a $1.4 million renovation of 10201 Jos. Campau, the City's tallest building located at Jos Campau and Belmont. Plans include a restaurant, Flavor, on the ground floor, office space on the second and six residential rental lofts on floors three and four.
Although the project has been delayed in the past -- Flavor proprietor Titus Walters had
hoped to be open in 2009 -- Hamtramck's director of community and economic development Jason Friedmann says now that this approval is in place, things can progress quickly. He anticipates it being complete next summer.
The building was purchased by Sable Acquisitions, LLC., a company headed by Hamtramck businessman Mark Hausner, three years ago. "A lot of work was already done before he purchased it, the restaurant is close to being built out," says Freidmann.
The city recently launched an upper-story rehab program to encourage similar development along the Jos. Campau strip. "One of the things holding this district back is that a lot of storefronts need interior renovations to get them up to code," says Friedmann. "Once they are, they seem to rent out pretty quickly if the landlord is renting at a reasonable rate." Friedmann estimates that residential rentals along Jos. Campau are at an 85-90 percent occupancy rate and that offices are at about 90%, although "there is not that much updated office space."
10201 Jos. Campau was granted approximately $116k in Tax Increment Financing reimbursement over 14 years by the Hamtramck Brownfield Redevelopment Authority, and will recommend approval of a 20 percent Michigan Business Tax credit from the Michigan Economic Development Corporation.
Source: Jason Friedmann, City of Hamtramck
Writer: Kelli B. Kavanaugh
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