SAGINAW, Mich. (AP) - A state economic development program is pumping more than $3.4 million into a farmers’ market complex being developed in downtown Saginaw.
The Michigan Strategic Fund approved the incentive funding Tuesday. It’s part of a $19.8 million private capital investment into refurbishing a building formerly used by the Saginaw News.
The project is called SVRC Marketplace. The mixed-used development will feature a three-story market, food processing hub, rental commercial kitchens, retailers and space for commercial vendors.
Mayor Dennis Browning says the project will boost Saginaw’s urban core, enabling residents to eat healthier and higher-quality foods that are produced locally.
It was designed to encourage walking in the downtown area.
The site is near the renovated Bancroft Hotel, a 122-unit historic building that reopened in 2014.
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