Commongrounds Cooperative Receives $8 Million Loan Guarantee From US Dept. of Agriculture

There’s An monumental monetary step for a enchancment in Traverse Metropolis.

The Commongrounds Cooperative simply acquired an $8 million mortgage guarantee from the U.S. Division of Agriculture.

It was the final piece of the financing puzzle For his or her enterprise at 416 Eighth Road.

The constructing Shall be mixed use And might embrace workforce housing, a educating kitchen, office space, an early childcare facility, a meals hall and a small performing arts space.

“It’s A very broad spectrum of makes use of for one location,” said Shelly Collins, Area Director of USDA. “You’re getting as a lot out of that constructing as You will Have The power to probably get out of it and it’s bringing jobs and alternative to downtown.”

Development is already underway, and it’s anticipated to be accomplished earlier than The prime of the yr.