One of the challenges of locating your business in Detroit is finding a good building to put it in. Although Detroit has a lot of empty spaces, many (if not most) businesses need a space that’s close to being ready to use. The search for space that is the right fit can be daunting and also can discourage businesses from locating in the city.
With that in mind, the Economic Development Corporation of Detroit has approved 27 high-ranking buildings from the first round of the Motor City Match program.
The program supports redeveloping the city’s neighborhood commercial hot spots by matching business owners eying expansion with buildings that need some TLC.
In addition to the 27 properties that reached the Make a Match award phase, another 45 sites reached the Get Ready award category. Buildings in the Get Ready category meet all the eligibility criteria and received a building conditions assessment.
Motor City Match offers $500,000 in grants each quarter for businesses selected to participate. Buildings that are matched with business owners have the potential to be considered for design-build assistance and grant awards.
The first round of Motor City Match saw an impressive number of applications. Building owners submitted over 150 applications to the program, representing over 1.7 million square feet of space.
Over 350 businesses have applied for a building match, each hoping to find a great property to call home. Business owners will be selected for awards by October 1.
“The response to the first round of this new program shows how strong the desire is to activate vacant space and open new businesses in Detroit neighborhoods,” said Mayor Mike Duggan. “As Motor City Match moves forward, we are going to start to see new small businesses open up along our commercial corridors, giving residents options and opportunity.”