KALAMAZOO, Mich. (WOOD) — The Michigan Strategic Fund Board on Tuesday approved changes to loans granted to The Exchange Building project in downtown Kalamazoo.
The interest-only periods on some loans were extended into next year. The project now has a completion deadline of Dec. 13, 2020.
State documents say the delays were because of problems with the contractor. The building is now working directly with subcontractors to finish the project.
The 15-story building will have 130 apartments and commercial space. Some tenants have already moved in.