04/25/2012 04:08 pm ET

Historic Globe Building Gets $2 Million Tax Credit For Redevelopment Plan

Efforts to bring new life to Detroit's historic but derelict Globe Building on the east riverfront got fresh hope today with tentative approval of a $2 million tax credit and development plan.

The Detroit Brownfield Redevelopment Authority voted this afternoon to begin the process of approving a plan put forward by Detroit-based Roxbury Group, a real estate development firm. The plan calls for Roxbury to receive a state-approved $2-million credit against the Michigan Business Tax as part of a $12.5-million renovation plan.

Flickr photo by Dave Hogg.

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