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Complicated Deal for Rehab of Downtown Buildings - AM 590 - FM 96.5 1 WKZO Pagel of 3 (http : /I.w w. w k zo. c o m) W'K Z O Home (1) Weather ( /weather /) News (/news /) Blogs ( /blogs /) Media ( #) Movies (/movies /) Events ( #) On -Air (http:l lone. wkzo. com /sharedfairstaf /airstaf220.asp) Contact Us (http: / /www.wkzo.com /contact -us /) ( /news(gM1) Search News Complicated Deal for Rehab of Downtown Buildings n kALAMA20 Wednesday, December 15, 2010 7:19 a.m. EST G O S P E i MISS101 Caption: The Kalamazoo Skyline from atop Skydeck in Downtown Kalamazoo. 448 North Burdick! Kalamazoo KALAMAZOO (WKZO) -- It's the latest effort to try and salvage four largely vacant, historic buildings in the heart of downtown Kalamazoo. They will not only restore the facades to the way they looked over 120 years ago, but upgrade the interiors to thoroughly modern standards for commercial and residential use. MAVCON's Joe Augustinelli said stimulus grants, funding for depressed areas, tax increment financing, historic building grants and others have been patched together to restore the 100 - block of East Michigan Avenue. "It has a total of 14 layers of financing. It's one of -'If not the most - financially complicated deals occurring in the state right now," Augustinelli said. Jim Dailey said they will have businesses on the ground floor and moderately priced apartments in the upper stories. "These are going to range from studios to two- bedroom units there is a huge demand for these units," Dailey said. "We have probably seven or eight of them already spoken for." A brick breaking was held Tuesday. The $11 million project, called the "Metropolitan Center," should be completed by the spring of 2012. 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