Bagley Forest Property LLC, which is registered to Hessler, paid $438,000 for the 34,000-square-foot property that consists of three vacant buildings at the southwest corner of Livernois and Seven Mile in February 2016.

The project is being financed with $6 million in senior and subordinated debt, according to a memo to the Michigan Strategic Fund board, which approved the brownfield financing and grant Tuesday.

Bagley Forest is contributing 10 percent equity, $350,000 of which is from an equity loan from Invest Detroit, according to the memo.

The B. Siegel building, vacant for more than a decade, is 26,000 square feet.

Two other buildings that were part of the purchase in 2016 will be demolished, the memo says.

According to Historic Detroit, which tracks Detroit buildings and architecture, B. Siegel had as many as eight locations. The Seven Mile and Livernois location was a key factor in the area being called the Avenue of Fashion, Historic Detroit says.

An email was sent to Hessler on Tuesday morning seeking additional details on the project.