MUNISING, Mich. — The Munising Marketplace Advisory Committee met Tuesday to discuss the future of the proposed Munising Marketplace, a mixed-use development aimed at addressing housing and economic needs in downtown Munising.
The project plans to bring 32 workforce housing units to the second floor of a new building along Superior Avenue, with space on the first floor reserved for community-centered amenities such as childcare and a neighborhood market.
“The workforce population is really who needs to be served by this project,” said Jill Ferrari, co-founder of Renovare Development. “That drives the income targeting of the rent.”
Ferrari added that the committee recently ruled out the inclusion of national retail or fast-food chains in favor of services better aligned with the community’s needs.
“There were a few opportunities for national retail chains or quick food service operators and that was really not something that this advisory committee came to consensus on,” she said. “But they did come to consensus on childcare, and the market.”
A co-working and business training space is still under consideration but is not considered essential to the project.
The Munising Marketplace is also strengthening its partnership with the Sault Tribe of Chippewa Indians. Ferrari noted that the tribe, which operates an office in Munising employing 40 people, brings key economic influence and access to funding that developers may not have on their own.
“This whole project is about workforce housing,” Ferrari said. “The tribe is re-positioning themselves as an employer voice in the economic development ecosystem, especially in the state of Michigan.”
While planning continues, the project recently encountered a financial hurdle after losing anticipated gap funding from the Michigan Economic Development Corporation (MEDC) and facing changes to the federal new market tax credit program.
“We missed out on some gap financing we were hoping to get from MEDC,” Ferrari explained. “Unfortunately, right around that time, the federal statute changed for a new market tax credit which was the key driving financial mechanism for the project.”
Despite the funding gap, Ferrari and the advisory committee say they remain committed to moving forward. Construction on the Munising Marketplace is still expected to begin this fall.