In November 2014, Steve Hickman and Douglas Kapnick, retired executives of Brazeway, Inc. and Kapnick Insurance Group respectively, purchased three blighted properties for future restoration and redevelopment. Blighted properties are typically structures that have been abandoned, are in a state of disrepair, or inadequately maintained. Their plan is to renovate the historic buildings and use them as new commercial and residential space for downtown Adrian.
Recently, Strongback Properties development project received in excess of three million dollars of state and local incentives to restore three properties in the heart of downtown Adrian. This means significant economic development in our area is on the horizon. Construction is already underway! Strongback Properties, LLC, a Michigan company created by Steve Hickman and Doug Kapnick, is just one of many projects underway to restore downtown Adrian. The Michigan Economic Development Corporation supports investing in public spaces and community places. A flourishing downtown strengthens a community’s economic vitality, which improves quality of life, attracts new industries, helps retain talent, and creates local economic opportunities.
This project is the result of the Lenawee County Land Bank Authority acquiring the blighted properties two years ago and actively seeking development proposals. The land bank was created to “encourage local development” says Marilyn Woods, chair of the Lenawee County Land Bank in a joint press release by Lenawee Now and the City of Adrian. This public authority holds and efficiently manages local tax-foreclosed properties. Land bank programs often act as an economic and community development tool to revitalize blighted neighborhoods and business districts.
These developments are sure to strengthen Adrian’s downtown scene, as well as open local business and economic connections. Investing in the revitalization of our downtown is investing in a solid community for generations to come.
Downtown Development Authority members accepting check incentive from the Michigan Economic Development Corporation earlier this month.