Michigan Strategic Fund Board Subsidizes A New Health Care Clinic In Downtown Detroit

The Michigan Strategic Fund Board voted to approve incentives for BAMF Health's Theranostics Center and Radiopharmacy.  BAMF announced the clinic, a partnership with Bedrock, Michigan Innovation Headquarters (MI-HQ), Ferris State University, Wayne State University, and TechTown back in December:

https://www.detroitnews.com/story/business/2025/04/22/michigan-strategic-fund-board-oks-aid-for-detroit-health-care-facility/83209609007/

Michigan Strategic Fund board OKs aid for health care facility at failed jail site
By Candice Williams - April 22, 2025
The Detroit News

The Michigan Strategic Fund Board on Tuesday approved incentives to support a new health care facility in downtown Detroit from BAMF Health, a Grand Rapids-based medical technology company specializing in cancer and Alzheimer’s treatment. The 45,000-square-foot facility is part of Bedrock's development of a 14-acre district on the failed jail site along Gratiot at Interstate 375.

The fund board approved a $1.5 million performance-based grant through the Michigan Business Development Program and a 15-year 100% state essential services assessment exemption valued at up to $982,000 for the project. The project is expected to create at least 90 jobs and generate more than $93 million in capital investment in Wayne County.

"This kind of facility and platform not only will offer the cutting-edge medicine to people in Detroit and southeast Michigan, but also significantly impact health disparity issues," Anthony Chang, founder and CEO of BAMF Health said, during the meeting Tuesday. "On top of that, we're going to offer high-paid jobs and also bring the advanced research brought by international major pharmas to Michigan. And without this kind of facility, there's no other places in the world efficiently doing that."

BAMF Health's Theranostics Center and Radiopharmacy will offer advanced molecular imaging and therapy services and include a commercial radiopharmacy equipped with PET/CT scanners, MRI machines, hot cells, and cyclotrons.

“The arrival of BAMF Health’s innovative Theranostics Center in downtown Detroit is akin to planting a seed in already fertile ground," Kevin Johnson, president and CEO of the Detroit Economic Growth Corporation, said in a statement. "This project will grow the city’s burgeoning medical ecosystem and bring next-generation cancer therapies to Detroiters. The DEGC proudly supported BAMF during our 2.5-year attraction effort alongside the MEDC. We are grateful to the MSF Board for their support of this transformative development.”

The Michigan Strategic Fund Board also approved support Tuesday for housing and commercial development in Southfield, Ferndale and Muskegon.

In Southfield, the fund board OK'd a $131.8 million transformational brownfield plan incentive package for the Middlepointe redevelopment. Middlepointe Investment Group LLC is expected to transform long-vacant land at the northwest corner of Evergreen Road and Civic Center Drive into a walkable, high-density, mixed-use hub with 577 residential units and 42,000 square feet of commercial space. The development will also include a parking deck, pocket parks and a pedestrian greenway. Officials said 90 of the housing units will be affordable or attainable at 80% of area median income for Oakland County.

"More than just the development, Middlepointe is designed to attract new residents and businesses while strengthening the fabric and property values of the city for those who are already here," Hassan Jawad, president of Middlepointe Investment Group, said during the meeting. "It's a homegrown catalyst for long-term economic growth and a true city center that Southfield can be proud of."

In Ferndale, the fund board approved a $3.95 million loan to support the Vester Flats project downtown. The $22 million development by Matthew Walters involves turning a blighted parking lot at 141 Vester St. into a four-story mixed-use building with 72 residential units, commercial space and 54 integrated parking spots.

In Muskegon, the fund board approved a $159.6 million transformational brownfield plan incentive package for the redevelopment of the former Shaw Walker furniture factory site. Parkland Properties of Michigan is spearheading the project that involves redeveloping seven vacant industrial buildings into a mixed-use district with 571 residential units and nearly 75,000 square feet of commercial space. The project will also include a new parking garage. The project is expected to produce more than $221 million in investment and 200 full-time jobs.

"As someone who grew up in the city of Muskegon, I remember going to preschool across the street from this building and it had broken windows and falling bricks and was a blighted site then and has been sort of a mark on our community for decades," said Jack Elkholm, Muskegon's director of development services. "And it can be seen from our traditional downtown Main Street. It's the last remaining big industrial, post industrial eyesore. And so when we talk about transformational brownfields, I can't think of a project in the region that would make more sense."