Michigan Governor Gretchen Whitmer and the Michigan Strategic Fund (MSF) Board have approved several key projects aimed at boosting placemaking, entrepreneurship, innovation, and small business support across the state, including a major redevelopment of the former Lakeside Mall site in Sterling Heights. These initiatives are expected to contribute significantly to Michigan's vibrancy, innovation, and economic momentum.
A Transformational Brownfield Plan (TBP) totaling $270,678,999 was approved for the redevelopment of the former Lakeside Mall site in Sterling Heights, Macomb County. The project, led by Lakeside OOTB Ventures, LLC, a subsidiary of Lionheart Capital, will introduce approximately 1,545 residential units, 154,007 square feet of new retail space, and a central community park. The total capital investment is estimated at $621,019,411, with the City of Sterling Heights also committing $27.6 million for infrastructure. Governor Whitmer said, "By redeveloping the Lakeside Mall in Sterling Heights, we’re creating more options for hardworking Michiganders to live and work in vibrant communities." Colin Carby, director of development for Lionheart Capital, added that the project will transform a "functionally obsolescent and vacant property into a vibrant, walkable city center."
Further strengthening the state's innovation economy, the MSF Board approved a $1.5 million performance-based grant for the Invest Detroit Foundation to launch the Innovation Alliance. This statewide initiative will coordinate strategy, align the ecosystem, and promote Michigan's innovation assets, including its research universities and entrepreneurial networks. Ben Marchionna, MEDC’s Chief Innovation Ecosystem Officer, said, "The Innovation Alliance will help unlock new opportunities for collaboration, accelerate commercialization, and ensure Michigan is positioned to compete and lead in the industries of the future."
Additionally, over $1.5 million in grant funding was approved for 69 awardees through the FY26 Match on Main program, supporting new and expanding small businesses in downtowns and neighborhood business districts. This round saw the highest participation in the program's history. Since 2019, the Match on Main program has supported 727 small businesses, creating 705 full-time and 1,152 part-time jobs, and leveraging over $25 million in private investment.
The MSF Board also approved actions related to Renaissance Zones. In Norton Shores, a Renaissance Zone will support La Colombe’s facility expansion, part of a larger $567 million investment by Chobani expected to create 337 new jobs and retain 312 existing ones. City Administrator Anthony Chandler said the expansion will solidify Norton Shores as the center for La Colombe’s coffee operations. In Pontiac, a 15-year extension was granted for Williams International’s Renaissance Zone, facilitating a new $200 million turbine engine development and testing complex and creating 71 jobs. Oakland County Executive David Coulter said, "This significant investment reinforces Oakland County’s robust tech ecosystem and highlights our strong technical talent." These projects underscore Michigan's "Make It in Michigan" economic development strategy, aiming to foster continued growth and opportunity across the state.