Feb
The Lofts at Lumber Square is now open and serving our community in so many ways. Creating 60 more workforce housing units in Downtown Petoskey took years of planning, community partnerships, and generous donors, and we are so grateful to all our partners that made it possible.
Northern Homes owns and manages the property, and they recently provided a lease-up progress report. As of February 5, 17 units are occupied; 11 scheduled and 12 in process. They expect to be 90% full by the end of April and 100% full by the end of May.
The current tenants represent a diverse profile of residents with a variety of household compositions. Annual incomes for residents range from approximately $45,000 to $90,0000, with households working in a variety of employment sectors: the food and beverage industry, health care, arts & culture, education, veterinary, and more, indicating that the Lofts is serving who it was designed to serve.
Beyond the numbers, this new addition to our community is creating a real impact on the lives of the tenants. After experiencing a life-altering bike accident, one tenant was looking for handicap-accessible housing in the area. “The Lofts provide exactly what I need to quite literally continue moving forward. No matter the weather, I can walk the long hallways and use the workout equipment daily. The thoughtful handicap accessibility makes independent living possible for me.”
Another tenant said driving from Boyne City to work in Petoskey everyday was daunting – especially in the winter. After moving into the Lofts, they said they were thrilled to live in a “brand-new apartment complex with an elevator, only 5 minutes from work!”
“The Lofts are more than just an apartment building. They’ve become a small, close-knit neighborhood with a strong sense of community.” – LOFTS Tenant
We are so grateful to all our partner organizations and donors who came together to make this workforce housing available in our area.