State Fund Loaning $3.5 Million to Wurlitzer Building Developers
A state fund will help developers turn Wurlitzer building into a boutique hotel.
The Michigan Strategic Fund is awarding a loan to the owners of the Wurlitzer Building in Detroit. The Michigan Economic Development Corporation-run fund is providing $3.5 million to turn the long-unoccupied building into a 100-plus room boutique hotel. MEDC spokesperson Stacy Esbrook says there are also plans for retail and restaurant space on the first floor of the Wurlitzer.
“So they anticipate to create 40 new full-time-equivalent jobs for managers, supervisors, hotel staff, housekeepers…. We anticipate additional employment to be created by the restaurant operator as well as the rooftop bar operator.”
-Stacy Esbrook, MEDC
Esbrook says the developers will also receive tax incentives, like federal historic tax credits, to support the project. She says she expects construction to be completed in 2017.
