Michigan Community Revitalization Program (MCRP)
Michigan Community Revitalization Program (MCRP) supports developers with gap financing to transform underused Michigan properties, revitalize downtowns and corridors, and encourage private investment.
Funder: Michigan Economic Development Corporation
Due Dates: Project-specific, multi-stage review (approval generally takes six months to one year)
Funding Amounts: Up to $10 million total assistance per project; grants capped at $1.5 million
Summary: Performance-based gap financing supports redevelopment of eligible Michigan properties to advance community revitalization.
Key Information: Applicants must demonstrate a financing gap and explore and maximize other funding sources.
Description
The Michigan Community Revitalization Program (MCRP) is administered by the Michigan Economic Development Corporation (MEDC) on behalf of the Michigan Strategic Fund (MSF). It provides real estate development gap financing through grants, direct loans, loan participations, or equity investments. The program focuses on transforming underutilized properties in or supporting traditional downtowns and high-impact corridors throughout Michigan.
MCRP encourages private investment in areas of historical disinvestment, redevelopment of brownfield and functionally obsolete properties, reduction of blight, and rehabilitation of historic resources. Its goals include innovative or impactful placemaking, attracting talent, and job growth in targeted sectors. Support is determined through a needs analysis, expressed as a percentage of eligible investment, and contingent on performance milestones.
