Renovare Development is currently planning a transformational, mixed-use development in Munising Michigan, home to Picture Rocks, the National Park Service’s first designated National Lakes Shore. Comprised of over 15 miles of shoreline along Lake Superior, which includes over 100 miles of scenic trails and colorful sandstone cliffs. Munising has become the poster child of the PURE Michigan campaign. The project involves the historic redevelopment of the Munising Firehall and Department of Public Works garage into an open concept community marketplace/restaurant, in addition to an adjacent 3-story, new modern mixed-use building. The project also includes a public gathering/event space that seamlessly connects the project to the main street.
Lafayette Place Lofts is a 46-unit mixed-use community, including an indoor parking garage and two commercial spaces located in downtown Pontiac, Michigan. The project is located within an Opportunity Zone.
The property was completely redeveloped in 2012 using U.S. Department of Housing and Urban Development (HUD) Neighborhood Stabilization Program funds, Federal and State Historic Tax Credits, New Market Tax Credits and Brownfield funds.
Our project includes the acquisition of Lafayette Place Lofts and the new construction of 96 residential, workforce housing units on the adjacent vacant parcel (Perry Lofts). Proposed financing includes the 4% Low Income Housing Tax Credit (LIHTC), gap financing and Opportunity Fund equity investment.