Developer of Pontiac’s Lot 9 looks for project financing

Money, money, money… Money! Money! That’s what the developer behind the Lot 9 project in downtown Pontiac is looking for.

West Investments is still trying to line up financing for the project. City officials expect him to come back with an update by the end the month.

The Pontiac Downtown Development Authority chose West Investments (headed up by Kyle Westberg, owner of Pontiac-based West Construction) to develop the 6.7 acre parcel at the northeast corner of Saginaw and Pike streets. The property is currently a surface parking lot at the knot end of the Woodward Avenue loop that surrounds downtown.

The development calls for building a 4-story, mixed-use structure. The building will feature ground floor retail space with a yet-to-be-named anchor tenant. Above that will be three floors of residential space. The number of units and whether they will be rental apartments or for-sale condos has also not been determined.

Source: Pontiac Downtown Development Authority

Writer: Jon Zemke