The Building Owner Track is for Detroit building owners looking to lease vacant commercial space to quality businesses.
Buildings must be structurally sound, in good standing and benefit the community as outlined in program guidelines.
Building owners may compete for higher assistance levels in upcoming quarters.
Applications are due the first day of every quarter and will be available one month prior. Awards determinations are made no later than the end of that [quarter].
First, apply online or via printed application. Printed applications are available at the office of the Detroit Economic Growth Corporation at 500 Griswold Street Suite 2200 Detroit, MI 48226.
Applicants will qualify for one of three award categories:
Who: Building owners that own vacant commercial real estate in Detroit who are looking for a tenant.
What: All applicants who meet basic eligibility criteria will have their property listed as available on the Motor City Match website, which will be seen by hundreds of businesses looking for space in Detroit. Building owners will also receive a building assessment that documents current property conditions, renovation recommendations and costs estimates. The top 25 ranking properties in this award category will additionally be marked as a “top destination for new business” in Detroit. These top properties will receive 1:1 match making with the top business from the Business Track.
Who: Building owners and their tenants who have recently signed a lease but need help planning building renovations and tenant improvements.
What: These participants will receive design assistance from a professional architect as well as priority permitting. The architect will provide construction documents, while the Motor City Match team facilitates priority permitting, connection to Detroit builders, and financial planning assistance. Up to seven building owners and their tenants will receive Design awards per quarter.
Who: Building owners that have a tenant secured, a plan for build-out and strong understanding of the money needed to complete building renovations at the space prior to their tenant opening for business.
What: Building owners and their tenant will have the opportunity to apply to Motor City Match lending partners for project financing. If there are gaps in financing, applicants will be considered for grants that are paid on a reimbursement basis. Up to 10 grant awards will be issues per round for a total of $500,000 to both building and business owners. Maximum grant awards are $100,000 per project.
Building owners are selected on a competitive basis using five selection criteria. Each selection criterion is 20 points for a total of 100 possible points. Selection criteria includes:
Once we have collected and rated applications, the Motor City Match team will notify you if you are being considered as a finalist or winner for an award. Once selected, we will work on a one-on-one level to connect you with a tenant, support, and resources necessary to get your building back into productive use.