Petoskey, Michigan
One of the largest housing proposals in the region officially has a developer as of this month.
According to the nonprofit Housing North, Great Lakes Capital completed the sale of the Michigan Maple Block parcel in Petoskey and will be moving forward with “Maple Block Flats,” a 204-unit apartment complex.
The housing could replace the former Michigan Maple Block Company, best known for its butcher blocks and other wood products and founded nearly a century ago. The 12-acre Petoskey facility, located at 1420 Standish Ave., closed in the summer of 2020 after layoffs caused by the COVID-19 pandemic.
Indiana-based Great Lakes Capital is a private equity developer that also built the West End Lofts in Traverse City.
Housing advocates have been eyeing the site for years due to its proximity to downtown, opportunities for unique tax incentives and acute need for housing in Emmet County.
But the apartments could still be a few years out from being built.
Housing North Program Director Andrea Jacobs said years of forming partnerships, securing funding and approving site plans with local government “has got the project to the starting line.”
Because the former factory is contaminated with metals and petroleum compounds from manufacturing, it will need thorough environmental cleanup and special foundations from the Michigan Department of Environment Great Lakes and Energy (EGLE).
