Internal demolition could start this winter, Eyde officials have said, with construction tentatively slated for next summer. Work could be done by the end of 2013 or early 2014.
Eyde also is waiting for about $5 million in funding it wants from Great Lakes Capital Fund, of Lansing, and Huntington Woods-based Michigan Magnet Fund Inc. to be finalized. The two groups use federal New Market tax credits in order to draw private-sector investors and expect to hear more about the credits early in 2012.
Retail space will be on the first floor and a mezzanine level, with offices on upper levels and about 22 residential units on the fifth floor. Apartments are expected to be mostly two bedrooms and 900 to 1,200 square feet, Clouse said.