How many new residential units would it take to solve Traverse City’s housing crisis? This is a question that many local players have spent 2021 trying to answer, and this is why this year has seen the discussion, proposal, approval and inauguration of so many different housing projects. To help readers keep track, The teleprinter put together a cheat sheet of some of the developments currently in the planning or construction stages.
What and where: Alta Vista is an on-going prefabricated housing development on 80 acres of land adjacent to Hammond Road in the Township of East Bay Charter, between Hammond Road and Vanderlip Road.
Number of units: When complete, Alta Vista will include 165 single family homes. The first phase of a three-phase development process will include 56 residential sites.
Price : The base price range for homes in the Alta Vista community is $ 149,500 to $ 190,000, although the customization options may affect the price.
Chronology: The developers of Alta Vista initially planned to have the first homes in the project ready for occupancy by September 2021, but the project did not finally get underway until June. There are still no houses built on the property at this time, although work on the site is ongoing.
What and where: The Commongrounds Building, currently under construction at 416 East Eighth Street, is a four-story mixed-use development that will bring together food, beverage, arts, activities, daycares, businesses, nonprofits and affordable housing under one roof.
Number of units: The third and fourth floors of the building are residential spaces, with “up to 24 residential rental units” planned for “long term use and retirement / short term”.
Price : Floor plans for the studios will start at “just over $ 600 per month,” according to the Commongrounds website. Rents for larger units will be “income-based”, with around 25% of units affordable for those earning 60% of the area’s median income (MAI) and an additional 25% targeted for 80% of the rent. ‘FRIEND. The remaining units would be split between 100% of the MAI and the local market rate.
Chronology: Commongrounds should be completed next spring.
What and where: Woodgate Ridge is a new townhouse community slated for nine vacant acres located at 3991 Holiday Road.
Number of units: Eastwood Custom Homes, the developer behind Woodgate Ridge, plans to build 12 two-story townhouses on the site, each containing six residential units, for a total of 72 units.
Price : Eastwood has yet to share any information on townhouse pricing.
Chronology: East Bay Township Planning Commissioners approved the Woodgate Ridge site plan in August, which could mean a first shovelful of soil in 2022 for the project.
What and where: Ruth Park is a new affordable housing complex currently under construction on Wellington Street across from Safe Harbor.
Number of units: The complex will consist of 58 apartments.
Price : Woda Cooper Companies, the developer behind Ruth Park, says the units are “for singles, families and seniors who earn 30-80% of the region’s median income.” This would put the rates between $ 400 and $ 1,000 per month. Additionally, the Traverse City Housing Commission allocated nine housing vouchers for the complex, which helped Woda secure funding from the Michigan State Housing Development Authority (MSHDA) to build it.
Chronology: Construction on the Ruth Park building began in September 2021 and is expected to take about a year.
What and where: South22 is a new apartment complex that would occupy 21 acres at the northwest corner of LaFranier and Hammond Road in Garfield Township.
Number of units: The development would include 216 apartment units, spread over a trio of three-story apartment buildings.
Price : The developers of South22 have yet to release details on likely rent rates.
Chronology: Following approval by the Garfield Township Planning Commission last month, the South22 project has the green light to proceed. The developers had previously indicated their intention to begin initial leveling and site preparation before winter.
What and where: For several years, the Downtown Development Authority (DDA) has been considering projects to redevelop surface playgrounds in the city center into housing. Lot O (located next to the Omelette store) looks likely to develop first, after DDA selected an app from HomeStretch and Goodwill Inn to build a five-story mixed-use building on the lot.
Number of units: Initial plans for the Lot O building indicate that it would include 64 housing units on the upper floors, as well as 5,000 square feet of retail and commercial space on the ground floor.
Price : The second floor units would be for renters earning 50 to 70% AMI and would sell for between $ 796 and $ 1,338 per month. The fifth floor would target market rates, with rents ranging from $ 1,190 to $ 1,912. The fourth floor would include 44 “co-op style” units and would be reserved for tenants earning 0-40% MAI, with rates capped at $ 595.
Chronology: DDA CEO Jean Derenzy told The Ticker in August that the redevelopment of Lot O “would take several years to accomplish,” in part due to the complexity of funding MSHDA.
What and where: West End Lofts is the name of the affordable mixed-use housing development that real estate company Great Lakes Capital is planning on vacant land at 309 West Front Street, adjacent to 4Front Credit Union’s new downtown headquarters.
Number of units: The West End Lofts project would include 91 residential units, as well as 5,000 square feet of retail space and 87 underground parking spaces.
Price : Most units in West End Lofts will be billed at market rates, but Great Lakes Capital intends to include 14 units “at 80% AMI over five years”.
Chronology: According to the Great Lakes Capital website, the West End Lofts are expected to be completed in December 2022.
Development of the Rusch road
What and where: Local real estate agent Sam Flamont and his Mitten real estate group have announced plans this year to develop 80 acres off Rusch Road into a new single-family housing development.
Number of units: Flamont said The teleprinter in October that development could bring in up to 125 homes.
Price : The residences will cost between $ 400,000 and $ 475,000.
Chronology: The first units of this development will likely be by late summer or early fall 2022.
The projects detailed above represent just a few of the residential developments that could impact the Traverse City housing stock in the years to come. Others to watch out for include:
· In addition to Lot O, DDA is considering several other downtown parking lots for mixed-use developments, including Lot G, next to Modes Bum Steer; Lot T, at the southeast corner of Union and Grandview Parkway; and Lot X, behind the Hall Street utility substation.
· Developer Joe Locricchio is continuing a development of 912 housing units on the Elmbrook golf course property.
The Township of East Bay could see several other major developments, including a 192-unit apartment complex near Hammond Road, a 12-unit apartment building between the Quality Inn and Traverse City State Park, an extension of 25 units in the Holiday Forest subdivision in Holiday Hills.
Garfield Township also has other prospects on the horizon, including a 60-unit apartment development near the Grand Traverse Mall and The Flats at Carriage Commons, a project by the Traverse City Housing Commission that would bring over 200 apartments for the workforce and 14 Habitat single-family homes for the Homes of Humanity to LaFranier Road.