The Detroit Economic Development Crop. approved a $700,000 loan for Dave Bing's east riverfront condo project called the Watermark.
Excerpt:
Like most proposed residential projects in Detroit and elsewhere,
Bing's project, announced in 2006, has been stymied by poor market
conditions. The loan is meant to help him carry the project's costs
through this year until the market recovers enough for Bing to break
ground.
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