KALAMAZOO, MI – A local restaurant and bar a burghal Kalamazoo could anon be adapted into affordable housing.
Ohio-based developer Woda Cooper Companies is looking to construct a 49-unit mixed-income apartment architecture breadth Rugger’s Up & Beneath currently stands at 711 W. Michigan Ave.
In June, Rugger’s buyer Heinz Schroeder put the sports bar and restaurant up for auction afterwards 28 years of business. The acreage was listed for $1.2 actor with Kalamazoo Bartering Real Estate.
Rugger’s Up & Beneath and its 102 curtains could be castigation for $1.2M
Rugger’s has served as watering aperture for the Western Michigan University rugby football club and association of nearby Kalamazoo neighborhoods for decades. If the action proposed by Woda Cooper moves forward, the indoor/outdoor bar, restaurant and bistro would be burst and replaced with a new, four-story residential building.
The development is accidental aloft Woda Cooper Companies accepting low-income apartment tax credits from the Michigan Accompaniment Apartment Development Authority.
On Sept. 17, the Kalamazoo Burghal Commission accustomed a 4 percent, 35-year acquittal in lieu of taxes (PILOT) for the project, accidental on it accepting the accompaniment tax credits and affective forward.
When a PILOT is granted, the acreage buyer pays the burghal a account allegation on their mortgage instead of advantageous acreage taxes.
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