Oakland County downtowns receive $67 million in investment

metromode, 4/9/2009

Even though the real-estate market is down, investment in some of Oakland County's most vibrant downtowns is up significantly. New investment for 12 downtowns registered at $67 million in 2008 compared to $51 million the year before.

This investment came in downtowns that are part of the county's Main Street program. Those downtowns include Rochester, Walled Lake, Ferndale, Farmington, Keego Harbor, Pontiac, Lake Orion, Holly, Highland, Ortonville, Oxford and Franklin.

More than 590 full-time and 291 part-time jobs were created through this investment. Another 29 new businesses also set up shop in these downtowns. 200 buildings were renovated and over 166,280 square feet of new space was created.

Downtown Ferndale was a big winner of this investment. More than $19 million came into the inner-ring suburb, creating 220 new jobs and 75,352 square feet of new space. Some of its big-ticket projects include the Lofts on the 9 and new offices for Foley Mansfield.

The Main Street program started in 2000 and has helped usher in more than $518 million in total investment in those 12 downtowns.

Source: Oakland County
Writer: Jon Zemke

Holly , Rochester , Farmington , Ferndale , Pontiac