The Building Owner Track is for Detroit building owners looking to lease vacant commercial space to our awarded businesses.

Buildings must be structurally sound, in good standing and benefit the community as outlined in program guidelines.

Building owners whose property has been accepted into the program may match with a prospective tenant to compete for cash grants in following rounds.

Applications and Award Dates

Applications are made available on a quarterly basis and are open for 30 days. Applicants will be notified of award status   within 90 days of application closing. Details and dates regarding upcoming rounds of applications will be forthcoming.

How it works

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:

Space

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 matchmaking with the top business from the Business Track.

Minimum Requirements

• Building must be structurally sound
• Building owner and tenant must be current and compliant
• Own a vacant commercial space and seeking a new tenant

Cash

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.

Minimum Requirements

• Building must be structurally sound
• Building owner and tenant must be current and compliant
• Building owner must have a tenant secured. Building owners must have a signed lease or letter of intent with a tenant (or deed if building will be owner-occupied)
• Building owner and tenant must have cost estimates and contractor bids
• Building owner and tenant must have funds ready to invest

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 include:

• Building characteristics and vision to support new business.
• Conditions of the building structure and systems.
• Community and market support for new businesses and business district revitalization.
• Leverage of building owner investment and other community investment initiatives.
• Compliance on taxes, utilities and inspections.

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.