Grand Opening of Landmark $20 Million Lafayette Place Development Spurs Revitalization of Downtown Pontiac, Local Neighborhoods

 Renovation of historic Sears building and upscale 10 West Loft Apartments, opening of Lafayette Market, Anytime Fitness and 18 new Unity Park homes culminates Pontiac's successful 2-year economic transformation with MSHDA, Land Bank

DETRIOT, Jan. 25, 2013 /PRNewswire-USNewswire/ -- The following is being released by MSHDA:

(Logo: http://photos.prnewswire.com/prnh/20110419/MM85741LOGO)

Who: MSHDA Executive Director Scott Woosley; Pontiac Mayor Leon Jukowski; Pontiac City Council President Lee A. Jones; West Construction Services President and CEO Kyle Westberg; Michigan Land Bank Fast Track Authority Executive Director Kim Homan; state Sen. Jim Marleau (R-Lake Orion); Michigan House Minority Leader Rep. Tim Greimel (D-Auburn Hills); Oakland County Treasurer Andy Meisner; Michigan Association of Realtors Senior Vice President Kathie Feldpausch; Building Industry Association of Southeastern Michigan Chief Executive Officer Mike Stoskopf; and representatives of local developers, including Home Renewal Systems, Venture Inc., Community Housing Network and 10 West Loft Apartments.

What: Press conference to announce official grand opening and an "Open House Tour" in Pontiac showcasing the Lafayette Place development, a nearly $20 million renovation and restoration of downtown Pontiac's historic Sears, Roebuck & Company Department Store building. The 80,000-square-foot structure, located in the city's Commercial Historic District, is the largest construction investment in downtown Pontiac in about 30 years. The project, which includes the opening of Lafayette Place Lofts, Lafayette Market and Anytime Fitness Center, is the city's newest success story that culminates the completion of the state's $13.7 million Neighborhood Stabilization Program 2 initiative to help revitalize the Pontiac Downtown Business District and Unity Park neighborhood.

The tour will feature some of the nearly 50 blighted properties that have been demolished in the Unity Park neighborhood and surrounding downtown business district. In addition, 56 loft apartments have been redeveloped, including the upscale 10 West Lofts multiuse development, and 18 new single-family homes have been constructed and are being sold as part of the federally funded initiative coordinated by MSHDA and the Land Bank with the city of Pontiac and Oakland County. They have partnered with local members of the Michigan Association of Home Builders, Michigan Association of Realtors, lenders and developers to market the homes.

When: 10 a.m. Monday, Jan. 28, 2013

Where: 
Lafayette Place Development (please plan to arrive at the Anytime Fitness Center front lobby)
149 North Perry St., south of Lafayette Street
Pontiac, MI 48341    

SOURCE Michigan State Housing Development Authority