Muskegon City Council Approves 10-Year Tax Abatement for Central Park Development

February 08, 2025 | Muskegon City, Muskegon County, Michigan


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Muskegon City Council Approves 10-Year Tax Abatement for Central Park Development
The Muskegon City Commissioners convened on February 8, 2025, to discuss several key development initiatives aimed at enhancing the local economy and housing landscape. The meeting began with a public hearing regarding a commercial rehabilitation certificate for the site at 1700 Oak Avenue, previously the general hospital. Development analyst Joshua Hines reported that the project, led by Princeton Development, involves the construction of six three-story multifamily buildings, totaling 144 dwelling units. The estimated investment for this project is $21 million, expected to create approximately 100 construction jobs and three permanent positions. The commission unanimously approved a 10-year tax abatement for the project, recognizing the need for new housing in the community.

Following this, the commission addressed a PA 198 industrial facilities tax exemption for 701 West Laketon Avenue, previously the Great Lakes Die Cast site. Analyst Jacqueline Hines presented the proposal for Molding Media of America, a new company that aims to fill a market gap in fiberglass supply. The facility will span 68,000 square feet and is projected to create 50 high-paying jobs over the next two years. The commission approved a 9-year tax exemption for this initiative, highlighting the positive impact it will have on local employment.

The meeting continued with a public hearing for neighborhood enterprise zone certificates for multiple addresses, including 283 East Walton Avenue and 450 Orchard Avenue. These certificates aim to reduce property taxes for homeowners and support the construction of new single-family homes, with an estimated cost of $157,000 per home. The developers, RSW Holdings LLC and Borrowstone Capital LLC, were present to address any questions from the commission.

Overall, the meeting underscored Muskegon's commitment to fostering economic growth and addressing housing needs through strategic development initiatives. The commissioners expressed enthusiasm for the projects and their potential to revitalize the community.

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