Hillsdale, Midland, and Rochester Hills welcome ALDI Grocery Stores
FOR IMMEDIATE RELEASE February 20, 2025
LANSING, Mich. – ALDI is investing approximately $13 million to bring new locations to Hillsdale, Midland, and Rochester Hills in eastern Michigan. ALDI will build and equip the three new stand-alone grocery stores which combined will comprise approximately 61,000 square feet of space and feature a range of products including fresh meat and seafood, organic produce, and pantry essentials with approximately 30% of each store’s floor area dedicated to fresh food. The developments are being supported with a $12-million New Markets Tax Credit (NMTC) allocation from Michigan Community Capital (MCC). The new ALDI location in Midland opened in November 2024, while the upcoming stores in Hillsdale and Rochester Hills are slated to open later this year.
The three ALDI stores in Michigan will address the critical need for affordable, fresh food in one non-metro and two metro communities that experience high rates of food insecurity. Each store within the Project Area qualifies as an “Area of Greater Economic Distress” as defined by the Community Development Financial Institution (CDFI) Fund.
ALDI, America’s fastest-growing retailer, offers shoppers groceries at everyday low prices in more than 2,400 stores nationwide. ALDI focuses on the groceries commonly purchased by shoppers, primarily under its exclusive brands, and is committed to providing customers with quality products at the lowest possible prices. ALDI strives to reduce the company’s impact on the environment through an energy efficient store design, including state-of-the-art lighting and refrigeration systems that have reduced energy features and environmentally friendly building materials.
Approximately 27 new full-time equivalent positions will be created to support the new stores. All positions will be accessible to individuals without a four-year degree and will provide industry-leading benefits including competitive wages, health insurance, 401(k) program and paid time off.
“We are thrilled that ALDI continues to invest in Michigan,” said Eric Hanna, president, and CEO at Michigan Community Capital. “At a time when groceries are expensive, ALDI uses its skills in supply chain management and store efficiency to deliver affordable and healthy food where it’s most needed.”
New Markets Tax Credits are a federal subsidy tool administered by the U.S Department of Treasury and designed to attract capital to projects that support low- and moderate-income households and communities. Michigan Community Capital is the only Community Development Entity (CDE) that deploys this resource entirely in Michigan. Since the organization’s formation in 2005, MCC has secured $570 million in NMTC allocation through competitive rounds to support Michigan businesses and communities. MCC uses NMTC’s to support job creation, access to healthy food, and mixed-use projects that include mixed-income housing and commercial businesses that benefit low-income households.
U.S. Bancorp Impact Finance, a U.S. Bank subsidiary, is serving as the New Markets Tax Credit investor on this project. Impact Finance provided $3.65 million in Federal New Markets Tax Credits.
About ALDI
ALDI is America’s fastest-growing retailer, serving millions of customers across the country each month. Our disciplined approach to operating with simplicity and efficiency gives our customers great products at the lowest prices of any national grocery store.* ALDI strives to have a positive impact on its customers, employees and communities by being socially and environmentally responsible, earning ALDI recognition as a leading grocer in sustainability.** In addition to helping protect the planet, ALDI helps customers save time and money through convenient shopping options via in-store, curbside pickup or delivery at shop.aldi.us. For more information about ALDI, visit aldi.us. *According to the 2025 ALDI Price Leadership Report. **According to Progressive Grocer’s 2023 and 2024 Top 10 Most Sustainable Grocers list.
Michigan Community Capital
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in three key areas: Real Estate Development, CDFI lending, and New Markets Tax Credits. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.4 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. Michigancommunitycapital.org
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Precision Hardwoods production expected to increase by more than 8x.
FOR IMMEDIATE RELEASE January 16, 2025
LANSING, Mich. – Precision Hardwoods Inc., a well-established name in the hardwood production industry, is undergoing a $13-million expansion with New Markets Tax Credit (NMTC) support from Michigan Community Capital (MCC) and PNC Bank. Locally owned in rural Onaway, Michigan, Precision Hardwoods has over 30 years of experience in the forestry industry and specializes in producing high-quality, locally sourced wood products.
With shutdowns of multiple mills across the state over recent years, the company is looking to fill the void and address the increasing need for both softwood and hardwood material. $10 million in New Markets Tax Credit allocation from Michigan Community Capital will be used for the purchase of new advanced equipment, which is expected to increase the company’s production capacity from about 25,000 to approximately 220,000 board feet daily.
In 2024, Precision Hardwoods constructed a new 45,000-square-foot building to house the sawmill equipment purchased with the equity generated from the NMTC allocation including a HewSaw sawline, a debarker, a Carobotech Log system, Pendu Autostacker, and a Pendu CutStock Line. By increasing industrial and grade-lumber to roughly 30 million board feet annually, Precision Hardwoods hopes to provide lumber to 25-30 different companies in 5 different states.
“Being awarded the NMTC is a recognition of Precision Hardwood’s commitment to growth, sustainability, and our community. With this opportunity, we will not only invest in the future of the lumber industry, but also our local community by creating and retaining meaningful employment opportunities that empower individuals and strengthen our economy,” said owner of Precision Hardwoods, Mike Sturgill on behalf of the Precision Hardwoods team. “Together, we are building a foundation for progress-one that supports both industry and the people who drive it forward! Thank you for the opportunity!”
The project is set to retain 7 jobs and create approximately 20 new positions in a NMTC-qualified census tract with a poverty rate of 17.8%. All jobs will be accessible without a four-year degree, and the company will provide specialized training to all employees to help them develop relevant skills. Precision Hardwoods will prioritize local hiring, partnering with Michigan Works! to recruit and hire from the surrounding populations.
Michigan Community Capital contributed $10 million in NMTC allocation to support the expansion.
“Supporting entrepreneurs who are close to their community and also integral to the global supply chain is how we will make Michigan a top 10 state for growth,” said Eric Hanna, president & CEO at Michigan Community Capital. “This is what the New Market Tax Credit program and our work at MCC is all about.”
PNC Bank is providing $3.2 million in NMTC allocation in the deal and will serve as the NMTC investor.
Precision Hardwoods was awarded 2 grants in 2024: one from the Food and Agriculture Investment Program Grant by the Michigan Commission of Agriculture & Rural Development, and another from the Michigan Economic Development Corporation’s Michigan Business Development Program.
Michigan Community Capital
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in three key areas: Real Estate Development, CDFI lending, and New Markets Tax Credits. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.4 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. michigancommunitycapital.org
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Sawmill Lofts Construction – December 2024
Expected completion in 2026 – Sawmill Lofts in downtown Grayling
FOR IMMEDIATE RELEASE December 19, 2024
LANSING, Mich. – Michigan Community Capital (MCC) is proud to announce that construction has begun on Sawmill Lofts, an $18.3-million redevelopment project in downtown Grayling. This transformative initiative will convert contaminated and previously blighted parcels into a vibrant, five-story, mixed-use building, bringing 40 apartments and 4,000 square feet of commercial space to 102 Michigan Avenue.
The project, located on a .76-acre site, has been over six years in the making, including a pause in 2020 due to the pandemic. Despite construction costs increasing by 50% since the COVID-19 pandemic began, MCC has persevered to bring this vision to life. Construction finances closed earlier this month.
“Although projects like these are becoming increasingly more difficult, we are seeing the state and local governments really stepping up to try to support housing and downtown development,” said Marilyn Chrumka, vice president of development at MCC.
The success of Sawmill Lofts is a testament to the collaboration and support of local and state partners, including: the City of Grayling, Crawford County Brownfield Redevelopment Authority, and Crawford County Board of Commissioners. These organizations approved a 30-year brownfield plan to support middle-income housing, laying the groundwork for revitalization.
“With the addition of this new five-story, 40-unit apartment complex, we’re taking a significant step toward revitalizing our downtown while addressing the growing need for modern, affordable housing,” said Erich Podjaske, Grayling’s city manager. “This project not only increases our housing capacity but also brings new energy and vibrancy to the heart of the city, making it an even more attractive place to live, work, and visit.”
Michigan Department of Environment, Great Lakes, and Energy (EGLE) approved a $1-million grant to address contamination from previous uses such as garages and a dry cleaner.
“It is exciting to be able to participate in a project like Sawmill Lofts. This project will not only address the risks associated with environmental contamination at the site but also create much needed affordable housing for the community,” said Carrie Geyer, EGLE brownfield program manager.
The Michigan State Housing Development Authority (MSHDA) provided a $3.5 million Missing Middle Housing Program grant to create housing for individuals and families earning 60–120% of the area median income.
“Sawmill Lofts demonstrates how innovative partnerships can create much-needed housing in Michigan communities,” said Amy Hovey, MSHDA CEO and executive director. “This redevelopment will not only breathe new life into downtown Grayling but also provide quality, affordable housing for middle-income individuals and families.”
Michigan Economic Development Corporation (MEDC) approved a $6.5-million Revitalization and Placemaking Grant to support the project’s construction and community impact.
“This is an exciting time for the community of Grayling. This project has been years in the making and once complete will provide much-needed housing in the area,” said Chief Place Officer at the Michigan Economic Development Corporation, Michele Wildman. “We applaud the collective Team Michigan effort and perseverance to bring this project to fruition to ensure more families can Make it in Michigan and call Grayling home.”
West Shore Bank has facilitated construction financing.
“West Shore Bank is proud to support the Sawmill Lofts project, which reflects our commitment to investing in the growth and revitalization of Michigan communities. This is a testament to what can be achieved through collaboration and shared vision. Projects like these not only enhance the local economy but also improve the quality of life for residents and businesses alike,” said Raymond A. Biggs, president and CEO of West Shore Bank.
When complete in early 2026, Sawmill Lofts will feature a mix of studio, one-bedroom, and two-bedroom apartments, with monthly rents starting at $885. Each unit will include stainless steel kitchen appliances, large windows, and in-unit washers and dryers. The building is designed to achieve Energy Star certification, ensuring lower utility costs for residents.
The project team includes Integrated Architecture (Grand Rapids, MI) as the building designer, Triterra (Lansing, MI) overseeing environmental remediation, and Pioneer Construction as the construction manager.
Stay tuned for updates on leasing opportunities and commercial space inquiries.
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in three key areas: Real Estate Development, CDFI lending, and New Markets Tax Credits. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.4 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. michigancommunitycapital.org
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