MANISTIQUE, Mich. (WZMQ) – A new condominium community will soon be established in the City of Manistique.
According to broker and Grover Real Estate owner David Muxlow, there has been a sustained need for housing in the area.
“We’re very stretched right now,” he said. “It’s not uncommon for a home listing to receive anywhere from one to even ten offers in our community.”
Grover Real Estate is just one of several organizations and local business leaders behind Center Place, which will be a 12-unit condominium complex on the corner of Main Street and Lake Street.
“The property’s owned by Schoolcraft Memorial Hospital, and they were looking for something to do with the property that would have a solid meaning to the community,” said Muxlow. “Over time, it morphed into residential housing where the people actually purchase rather than lease.”
Center Place is designed to provide a simple, “easy living experience.”
“We think that this could allow maybe some people who own a home that’s larger than what they need at this point in life and would like to sell that, but they would like a secure, safe place, low maintenance, that kind of thing,” Muxlow said.
The units will be listed at $475,000 each.
“If you looked at the total footprint of what you’ll be buying into—you’re buying one-twelfth of this building—the units will be somewhere between 1,000 and maybe 1,100 square feet,” Muxlow explained. “You’ll have your own utilities. You’re a self-governing building; you’ll have twelve shares, and each of those parties will pay in.”
A nearly $6 million project, Center Place Condominiums is supported by InvestUP‘s Build U.P. program.
“Build U.P. has helped through favorable loan terms that really help the developer be able to take the squeeze off of the carry costs during the construction phase,” said Muxlow. “[This project will have] a huge financial impact. New water sewer bills for the community, new customers for Cloverland, a large figure of property tax for the City.”
The Center Place units will be listed soon. Once crews break ground, Muxlow estimates the project will be completed within a year. He believes Center Place Condominiums will prove to be a quality living space that meets a major local need.
“The housing is just really essential,” Muxlow said. “I mean, we’re definitely a town that’s—I would say—hundreds of homes short of what we could’ve sold in the last few years. Our board and other community boards are very committed to being problem solvers and bringing really meaningful impact on the community.”
Anyone interested in learning more can view floor plans and additional information at centerplacemi.com.
