City Ordinance Supports Construction of Accessory Dwelling Units

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Charlevoix’s city officials are searching for solutions to the area’s affordable housing shortage. Accessory dwelling units (ADUs) are small outbuildings that can be used for a variety of purposes, from guest apartments to home offices. At a January 10 meeting, Charlevoix’s planning commission  recommended approval of regulations that would make ADUs easier to build in residential areas. The ADUs increase property usage in residential districts, provide extra space for families, and allow space for multi-generational homes that support familial caretaking. They create income sources when they serve as rentals. The accessory units also increase property values.

Michigan’s Rental Aid is Backlogged as Need Continues Rise

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173,000 tenants have applied for the statewide rent aid program that was launched to help renters avoid eviction and meet their payments. Wayne County makes up about one-third of the applicants. Detroiters make up 22% of the rent help applicants. According to the chief operating officer of the Wayne Metropolitan Community Action Agency, they continue to see high numbers of requests for support. The Census Bureau’s Household Pulse Survey reports that between Dec. 1 and Dec. 13,  more than 100,000 Michiganders said they were behind on rent or mortgage payments. Less than half of the applications for assistance were approved as of January 7. Statewide, wait time between application and approval averages 35 to 40 days. In Wayne County, that wait time may take as long as 10 weeks. MSHDA has hired staff combat the backlog and high numbers of applications in Wayne County

The Grand Hotel Owner Snaps up More Island Properties

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KSL Capital Group has purchased three boutique hotel properties and an adjacent restaurant on Mackinac Island for an undisclosed price. The properties include The Bicycle Street Inn, Waterfront Collection North, Waterfront Collection South, and Winchester’s Whiskey and Bourbon Room.  The sale included housing on the island and in St. Ignace for seasonal workers. KSL Capital Group also owns the Grand Hotel. The 3 hotel properties are in the heart of the downtown on the island. KSL Capital Group hopes to potentially provide more job security for seasonal workers who could have the opportunity to work on other properties owned by the group during Mackinac Island’s off-season.

 

 

Residential Sale Prices Continue Upward Trend

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Prospective buyers in Michigan’s housing market placed higher bids in 2021. A lack of inventory caused a 13.8% increase in residential sale prices in 2021 compared to the same period in 2020. There was a 3% increase in total sales. Branch County, Detroit, Bay County, Sanilac County and Mason, Oceana and Manistee counties reported higher than 20% increases in housing prices. Gratiot, Isabella, St. Joseph, Greater Shiawassee and Hillsdale counties reported less than 7% housing price increases. Antrim, Charlevoix and Kalkaska were the only to counties to report a decrease in home prices (-0.7%).

 

Children’s Health Center Construction Underway in Flint

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The Genessee Community Health Center, will be completed by next September. The Genesee Community Health Center will house all the children’s services programs of the Genesee Health System. It will be located on a parcel of land on the outskirts of downtown Flint. The center will encompass 60,000-square-feet and cost $22 million. The cost is covered through private and public funding, including grants and new-market tax credits.  Genesee Health System is a provider for Genessee County adults with serious mental illness or substance abuse disorders, as well a children with developmental disabilities.

Sugar Loaf Resort Demolition Is Underway

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Excavators have begun demolition of Sugar Loaf Resort in Leelanau County. The demolition should be completed by early January, but questions continue to loom. Who is financing the demolition, and what’s on the horizon for the site? The resort operated from the early 1960s until it closed in 2000 and was a premier winter destination. It had two golf courses, a 144,000-square-foot lodge and hotel, a restaurant, two pools, a 3.500-foot paved airstrip, indoor tennis, 72 townhouses, five chairlifts and a wastewater treatment plant. Ross Satterwhite is a local real estate adviser and the spokesperson for the unknown owners.

 

 

Traverse City’s Cherry Capital Airport Expansion on the Horizon

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Traverse City’s Cherry Capital Airport had its busiest month in July of 2021, serving just under 113,000 travelers. According to the airport’s director, the airport’s peak summer traffic could grow by another 32% by 2030. The airport is making preparations to support that growth. The Northwest Regional Airport Authority approved a parking expansion that will break ground next week. According to Klein, TVC’s existing long-term parking lot has 989 parking spaces. The expansion will  incorporate a new EV charging station, underground stormwater retention systems, and restriping of the existing lot. The expansion sill add 425 spaces in total. Preliminary plans could triple the size of the airport’s terminal in the future.

 

 

 

Novel Financing Helps With Inadequate Housing Issues

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An inadequate supply of housing is creating problems for businesses and crippling economic development in many communities. As a result, some communities are turning to tax increment financing. Tax increment financing (TIF) enables a developer to regain some of the upfront costs for a project by securing an increase in property taxes for a period of years and diverting them until the spending is repaid. Once the agreed-upon costs are paid off, the higher tax increment goes to local government. TIF has been around for a while but using it to allow new housing to be built that would be affordable to residents is a novel idea. It’s being used where labor and supply costs wouldn’t otherwise allow affordability.

 

 

 

Hefty Price Tag for Bayfront Traverse City Hotel Resorts

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Two of Traverse City’s bayfront hotels are for sale. The $47 million price tag includes Sugar Beach and Grand Beach Resort Hotels. Built in the 1990s, both properties would set a record for lodging sales in Traverse City. Mount Pleasant-based LaBelle Management operates both resorts.

 

 

Affordable Housing Demand Fills Downtown Muskegon Building

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A new TEN21 apartment building in downtown Muskegon is providing affordable housing. Residents began filling the new apartment building last week. The 73-unit building has 60 people waitlisted. The building will be fully occupied by the end of the month. Residents must meet income eligibility rules. One-bedroom rent ranges from $269 to $815 a month, and two bedrooms range from $460 to $950 a month. Each unit is equipped with a washing machine, dryer and kitchen appliances. Community common spaces are included in the development.