InvestUP is partnering with developers, lenders and government to increase workforce housing across the region.
InvestUP is partnering with developers, lenders and government to increase workforce housing across the region.
BUILD U.P. PROJECTS
The Build U.P. fund has now supported 24 projects in ten U.P. counties, representing 325 housing units built or underway. Build U.P. was created in response to a pressing regional need, as housing remains one of the biggest barriers to workforce attraction, business growth, and population stability across the Upper Peninsula.
By helping developers, lenders, municipalities, and local partners move projects forward, Build U.P. has turned a $15 million state investment into more than $82.5 million of actual housing activity across the region.
CURRENT PROJECTS
401 W. Washington Street in Marquette
This property will be transformed into a 16,000-square-foot building that will include integrated parking, two commercial spaces, and 11 residential units. Nine of those units are planned for households earning at or below 120% of AMI, adding needed attainable housing in a walkable part of the city. A $1.5 million MEDC RAP investment, along with the coordinated effort of partners including Build U.P., the City of Marquette, the Michigan State Housing and Development Authority, the Downtown Development Authority, UP State Bank, and the Marquette County Land Bank, is helping bring this site back into use.
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Manistique Center Place Condominiums
Moyle Construction is developing a 14-unit condominium project in Manistique to help address local housing demand. The project received $1 million in support from Build U.P., is financed by Peoples State Bank, and represents a total investment of $6.6 million in the community.
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Five Thirty-Eight in Sault Ste. Marie
Five Thirty-Eight is a mixed-use redevelopment project in downtown Sault Ste. Marie led by developer Holly Roberts. The development will create 22 apartment units and commercial space, supported by $250,000 from Build U.P. and financing from 4Front Credit Union. A total project investment is estimated at $5.76 million.
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The Career and Technical Education Partnership Program
The Career and Technical Education Partnership Program is a $1 million initiative that collaborates with local ISDs to tackle the U.P.’s housing shortage while training the next generation of skilled trades workers. To start, this program enables students from Delta-Schoolcraft ISD and Copper Country ISD to construct four homes in four communities, providing hands-on experience in residential construction.
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Crystal Falls Multi-Family Housing Units
A total of 68 new multi-family housing units are planned for the City of Crystal Falls. In partnership with the City of Crystal Falls and S.C. Swiderski, this project leverages the Residential Infrastructure Loan Program to fund critical infrastructure necessary for the development, like roads, sidewalks, and utilities.
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Rolling Meadows Apartments in Marquette
Rolling Meadows Apartments is a new 40-unit complex by Ironshore Development, LLC on 17 acres in south Marquette. The project was financed by MEDC and includes three phases; Phase 1 includes three buildings featuring 2-bedroom, 1-bathroom apartments, each approximately 950 square feet, with monthly rents estimated at $2,150. The first 16-unit building is expected to be available by late April or early May, followed by a second building in midsummer and a third building in the Fall of 2025.
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Hemlock Park, LLC in Marquette
In Marquette, this development consists of (26) single-family homes that range from 1,200 to 1,800 square feet. The development was financed by Nicolet National Bank. These units are 2 to 3 bedrooms and baths, which will also offer customization and upgrade options and have an estimated sales price starting at $479,000.
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COMPLETED PROJECTS
The Chipp at 710 Chippewa Square in Marquette
The Chipp is a 14-unit workforce housing redevelopment in Marquette. The project converts an underused office building into income-restricted apartments for households at or below 120% of the area median income, adding attainable options near jobs and services. An MSHDA MI Neighborhoods grant was awarded to this project, obtained in partnership with the Marquette County Land Bank. A brownfield plan was also approved by the Marquette City Commission. A tax increment financing will reimburse eligible environmental and housing development costs, helping close the financing gap and move the project forward with developer SLA Property, LLC.
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The Annex Redevelopment Project in Sault Ste. Marie
The Annex redevelopment project transformed the former Chippewa County Courthouse Annex into seven one-bedroom and four two-bedroom apartments for renters. Led by the Community Housing Network. This project was financed by Central Savings Bank, MEDC, and MSHDA.
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Historical Manistique Building Redevelopment Project
Supported by financing from Peoples State Bank of Munising and the MEDC, a former historical downtown building in Manistique was converted into a mixed-use development featuring office space and three long-term apartments that was developed by Kristina Behrens and Antonio Adan.
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The Hemlocks I, LLC in Marquette
The Hemlocks I, LLC project is a contemporary 39-unit apartment building set amid 29 acres of forested land, with easy access to downtown and outdoor recreation. Slated for availability in September 2025, the cost of this development with its modern amenities is $14,524,659, which was financed through Nicolet National Bank.
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L&Z Rentals, Inc. in Houghton
L&Z Rentals, Inc. renovated a mixed-use property in downtown Houghton, featuring nine residential units and two commercial spaces. The project was funded by Upper Peninsula State Bank and Michigan Economic Development Corporation (MEDC), and includes one 1-bedroom unit, six 2-bedroom units, one 3-bedroom unit, and one 4-bedroom unit, with rents ranging from $1,400 to $2,100 per month. Sky Sushi, the borrower’s restaurant, relocated as the anchor tenant to the development, which was financed by Upper Peninsula State Bank and the MEDC.
AV Rental Properties 9, LLC in Marquette
AV Rental Properties 9, LLC is constructing two duplexes at 411/412 W Baraga Avenue in Marquette. Each duplex will feature six bedrooms and two bathrooms, split into three-bedroom, one-bath units. This well-designed living space is in a prime location, with a build out cost of $1,275,000, which was financed by Embers Credit Union and MSHDA.