Workforce Housing Headed North

Nov. 23, 2024

This month, the Michigan Economic Development Corporation (MEDC) announced funding for two workforce housing projects in northern Michigan. The first is in downtown Petoskey, in a building vacant since 2006 (the former Hotel Del Rey, among other businesses) that will be redeveloped into nine apartments. Petoskey was identified by the MEDC as a Redevelopment Ready Community back in 2018, and they will receive up to $878,000 in Revitalization and Placemaking (RAP) funding and are expected to generate a total capital investment of over $2.3 million. Meanwhile, in Cheboygan, a Michigan Main Street Community, another long-vacant building (across from Festival Square) will receive up to $279,000 in RAP funds to rehab the property into a retail space on the main floor and two residential units on the second floor. Learn more about both projects at michiganbusiness.org.