State Rep. Wayne Schmidt today announced that a plan to demolish two buildings at the corner of Hope and Front Streets has been approved for a Brownfield Work Plan by the Michigan Economic Development Corporation.
The plan would also include infrastructure improvements and would prepare the spot for a new three-story headquarters for TBA Credit Union.
“This project will be a huge boost for downtown Traverse City and will have a very positive economic impact on the area,” said Schmidt, R-Traverse City. “I’m very happy the MEDC approved this project, and I’m excited to see the impact and the jobs that will be created by this new development.”
The project is expected to generate $7.3 million in capital investment in the area and create 17 permanent jobs.
House Republican Communications