LANSING — A developer wants to transform a vacant apartment building in Midtown into new commercial and residential space.
The company, 678 Selden LLC, plans to invest almost $3.7 million in the building at 678 Selden St., between Second Avenue and Third Street, the Michigan Economic Development Corp. said this week.
The MEDC’s Michigan Strategic Fund this week awarded the project a $670,210 performance-based grant. The city of Detroit also has offered an incentive worth nearly $411,000 under the state’s Obsolete Property Rehabilitation Act.
The project will require extensive renovations, including new plumbing, heating and electrical systems; remodeled bathrooms and kitchens; elevator work; a laundry facility; and secured parking across the street from the building, the state said.
A previous online property listing suggests the three-story building had been stripped of copper and metal, and the condition of its roof was unknown.
678 Selden LLC lists its resident agent as Brandon Duckett. Duckett could not immediately be reached for comment Thursday.
Possible commercial tenants have not been identified, nor has the potential number of residential units.
The 23,000-square-foot building was built in 1922. Duckett bought the 30-unit building in December 2013 for $200,000, for a cost of about $6,667 per unit, according to CoStar Group Inc., a Washington, D.C.-based real estate information service.
Its assessed value was $110,778 last year.
