Redevelopment of the iconic Argonaut Building in Detroit, Michigan at a project cost in excess of $150,000,000 through a multi-layered tax credit transaction involving State and Federal Historic Tax Credits, New Market Tax
Real Estate Services
Residential and commercial subdivisions, multi-family housing, mixed-use projects, multi-family affordable housing, industrial parks, recreational and entertainment venues, existing site renewal, office developments... there is a dizzying array of potential development projects. Clark Hill is a proven, valuable ally on all such projects, starting with site selection and moving through financing, acquisition, sales and leasing, and disposition, Clark Hill is able to offer clients a full range of complete, multi-disciplined real estate services. For regional and national developers, builders and non-profits, we provide a total knowledge of the many issues at play.
Our real estate services team brings together experts in the areas of project finance, private/public partnerships, litigation, construction, eminent domain, property tax management, energy and telecommunications, environmental law, tax planning and public support of residential and commercial development. Some of our recent projects include:
- The $150 million redevelopment of the iconic Argonaut Building in Detroit. This complex, multi-layered transaction involved a complex web of local, state and federal tax credits, including historic tax credits, new market tax credits, brownfield tax credits, tax increment financing, tax abatement, tax exempt bonds and equity and construction financing
- The use of economic development revenue bonds to finance the redevelopment and expansion of a 400 unit senior housing campus for a non-profit owner/operator
- The development of more than 30 single and multi-family residential projects in Southeastern Michigan, valued at more than $200 million
With an acute awareness of the many issues affecting complex real estate transactions -- environmental liability, conditions of title and insured risks, surveys, financing, tax incentives, governmental approvals and permitting -- our unique, full-service approach affords our clients the benefits of one-stop shopping and quick turn around time.
Represented and counseled a not for profit developer in the establishment of a development joint venture in the construction of a 96 unit Section 42 federal tax credit low income senior housing facility
Represented commercial development client in the development of over 200,000 square feet of commercial retail strip centers located in the Chicago metropolitan area. Responsible for land acquisition, site planning/design; government entitlements; (zoning/incentives); analysis and procurement of project financing, and construction management. Utilized various economic development tools to improve profitability such as real estate tax rebates (class 8) and tax increment financing
Represented local municipality in the creation of a not for profit development entity to facilitate the development of a $500 million dollar comprehensive redevelopment plan to accommodate the acquisition and development of land for a multi carrier cargo development plan
Represented investment group structure in the investment and assisted in raising $3,000,000 in capital to facilitate the acquisition of a community based financial institution
Represented development joint venture consisting of private equity firm and real estate developer for the development and construction of quick service restaurants throughout the United States
Represented a local municipality and economic development group in obtaining the first State of Illinois single community Redevelopment Authority with bonding authority of $200 million dollars