National developers, UpperCross Development and Beucler Properties has announced the closing of Michigan City’s first project structured in accordance with the new opportunity zone tax incentives. The partners acquired 113 York Street, planning to fully rehab the property to include three residential properties on the second floor and commercial use on the first. This property is located in the Historic Elston Grove District and follows the Design Guidelines. They plan to take advantage of the Façade improvement Program and the Upper Story Residential Incentive Programs. Clarence Hulse, Executive Director Economic Development Corporation Michigan City “We are excited to see Michigan City’s Opportunity Zone get its first project.”
Rob Harte has also started a Michigan City Opportunity Zone Fund to attract more developers to the area, and utilize the opportunity zone. For more information please contact Rob Harte of UpperCross Development Group www.ucdgrp.com.