The long-vacant Froebel School on Jackson Avenue in Muskegon will be converted into 46 affordable housing units. A nearly $1.3 million state grant supports the project with the city and nonprofit Samaritas.
Muskegon Director of Development Services Jake Eckholm says apartment renovations will begin this winter with restoration on the historic building happening in the next 60 days.
“In partnership with our Muskegon County Land Bank, we received a $1.4 million blight elimination grant to help stabilize the building and so historical preservation was part of that process as well. With that grant, we’ll be putting a new roof on and then doing any asbestos and environmental remediation and doing some other infrastructure improvements. “
The state also approved a similar amount of funding for the Allen Crossing III project on Apple Avenue. Spire Development will create an additional 42 affordable housing units under the Low-Income Housing Tax Credit program.
“It's not so much a grant as it is the state receives federal tax credits that they can competitively give out to affordable housing developers that propose projects all around the state. Then the developer can sell those tax credits on the bond market, and then that gives liquidity to develop either new construction in the case of Allen Crossing or renovation in the case of Froebel affordable apartment units.”
The two projects represent nearly $30 million in investments toward creating affordable housing and revitalizing neighborhoods in Muskegon.
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