West End Lofts

309 West Front Street, Traverse City, Michigan, USA

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Great Lakes Capital is building a mixed-use development consisting of 91 units,  5,000 SF of retail space, and 87 below-grade parking spaces.    GLC worked with the city,  MEDC, and EGLE for nearly two years to get the site fully entitled and ready for development. The market-rate project will include 14 units at 80% AMI for a period of five years.   The $26mm project is expected to be completed in December of 2022

  • A+ location, in the heart of downtown Traverse City
  • Vibrant downtown with several retail shops and restaurants
  • Lack of any new supply in the market
  • Strong demand for new market-rate units from leading employers like 4Front Credit union, Hagerty Insurance, and Munson healthcare
  • The only other completed market-rate multifamily development is 100% occupied
  • Strong support from the Downtown Development Authority
  • Excellent incentives with Brownfield TIF and Tax credit incentives in place
  • Site Plan approved by TC site plan committee on April 13th, 2020
  • GLC/CRG are planning an additional 80 units across the street on 124 Front

 

Projected timeline—loan closing December 2020 and complete construction by April 2022

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Martin Huttenlocker Headshot

Martin Huttenlocker

Development Manager

Leveraging 17 years of relationships and extensive background in the commercial real estate industry, Martin provides direct strategic and analytical support as part of the Great Lakes Capital development team. Since joining the firm in 2017 he has performed a hybrid role in asset management and brokerage services within the GLC portfolio. Martin earned a BA in Political Science from the University of Missouri/Columbia and an MBA from Roosevelt University in Chicago