The ambitious plan to transform the historic Fisher Body No. 21 factory into a mixed-use residential and commercial complex has cleared another significant hurdle this week, as the Detroit City Council approved a critical tax abatement framework designed to make the massive renovation financially viable.
Located in the Milwaukee Junction neighborhood, the Fisher Body Plant redevelopment represents one of the largest adaptive reuse projects currently underway in the city. The site, which has sat vacant for nearly three decades, is slated to become the "Fisher 21 Lofts," a project spearheaded by a partnership between developers Gregory Jackson of Jackson Land Holding and Richard Hosey of Hosey Development.
Revitalizing an Industrial Landmark
According to documents submitted to the City, the $134 million renovation will convert the 600,000-square-foot industrial ruin into more than 430 residential units and roughly 28,000 square feet of commercial and retail space. The project is viewed by city officials as a catalyst for connecting the New Center area with the I-94 industrial corridor.
“This project is about more than just saving a building; it is about knitting a neighborhood back together,” said a representative from the Detroit Economic Growth Corporation (DEGC) during the council session. “By stabilizing this structure, we are securing the future of Milwaukee Junction.”
For more context on how heritage sites are driving the local economy, readers can review our coverage on historic preservation trends in Detroit.
Impact on Residents and Affordable Housing
A central component of the Fisher Body Plant redevelopment agreement involves commitments to affordable housing. Under the approved plan, at least 20 percent of the units will be reserved for residents earning 80 percent of the Area Median Income (AMI). This aligns with the city’s broader strategy to ensure that development booms do not displace long-term residents.
Local housing advocates have generally supported the move, provided that compliance is strictly monitored. “We need to ensure that ‘affordable’ remains truly accessible for Detroiters living in this corridor,” noted a community liaison present at the hearing.
The project is also expected to generate significant temporary employment. According to recent construction job reports, projects of this magnitude typically support hundreds of skilled trade positions during the construction phase, followed by permanent jobs in property management and retail upon completion.
Background and Financial Structure
The Fisher Body No. 21 plant was originally built in 1919 and served as a major production hub for General Motors auto bodies until the 1980s. Following its closure, the site suffered from environmental contamination and structural decay.
To offset the high costs of brownfield remediation and structural reinforcement, the developers have utilized a mix of funding sources. In addition to the newly approved tax abatements, the project is leveraging federal historic tax credits and funding from the Michigan Strategic Fund.
What Happens Next
With the tax abatement secured, the development team is expected to finalize financial closing in the coming months. Preliminary site work, including debris removal and environmental abatement, is anticipated to ramp up later this year.
If the current timeline holds, the Fisher Body Plant redevelopment could welcome its first residents as early as 2026, marking a new chapter for one of Detroit’s most visible reminders of its industrial past.
