Berrien Crossroads Development Seeks Tax Exemption for Mixed-Use Development in Oronoko Charter Township
“We are committed to enhancing the quality of life in Oronoko Charter Township,” said Zach Vaughn, Director of Business Growth at Cornerstone Alliance.
“This mixed-use development not only addresses the need for housing but also provides vital commercial space that will create jobs and stimulate the local economy”
ORONOKO CHARTER TOWNSHIP, Mich. (October 17, 2024) – Berrien Crossroads Development, LLC, with assistance from Cornerstone Alliance, is pleased to announce the successful approval of a Commercial Rehabilitation Exemption. This initiative is designed to foster economic growth and revitalize the area through the development of a significant mixed-use project that will enhance both commercial and residential offerings in Oronoko Charter Township.
The approved development involves a phased buildout that will create approximately 21,000 square feet of commercial space alongside 235,000 square feet of residential units. This project aims to introduce new townhomes and apartment buildings, contributing to the establishment of a vibrant community hub.
The residential components of the development will feature new townhomes and apartment buildings, including 12 one-bedroom units and 18 two-bedroom units, as well as additional apartment units comprising 12 two-bedroom units and 8 one-bedroom units. On the commercial side, the development will accommodate 11 retail units, alongside a large retail unit of 2,640 square feet.
With the approval from the governing body of Oronoko Charter Township, the Commercial Rehabilitation Exemption will freeze the taxable value of the property for up to 10 years. This tax incentive is intended to stimulate economic activity and support the primary purposes of both commercial and multi-family residential facilities.
The project is expected to create approximately 73 construction jobs during its buildout phase, with an additional 65 permanent positions anticipated once the development is fully operational. This initiative represents a significant opportunity for economic growth in the region.
Zach Vaughn, Director of Business Growth at Cornerstone Alliance, stated, “We are committed to enhancing the quality of life in Oronoko Charter Township. This mixed-use development not only addresses the need for housing but also provides vital commercial space that will create jobs and stimulate the local economy.”
The request for a 10-year tax exemption was successfully approved, and the development is expected to be fully completed in approximately 10 years.
About Cornerstone Alliance: Cornerstone Alliance is the leading economic development organization dedicated to fostering growth and prosperity in Michigan’s Great Southwest. Through strategic initiatives and collaborative partnerships, Cornerstone Alliance drives innovation and opportunity, positioning the region for sustainable economic success. As the leading advocate for the local business and development sector, Cornerstone Alliance delivers tailored business assistance across Berrien County.