MARQUETTE, MICH. — Woda Cooper Cos. Inc. and the Keweenaw Bay Indian Community (KBIC) have opened Black Rock Crossing, a 50-unit affordable housing project in Marquette. The property features 26 one-bedroom units and 24 two-bedroom apartments for residents who earn between 30 to 80 percent of the area median income. Nine of the units are set aside for members of KBIC, and five units are adapted for people with mobility disabilities or sight/hearing challenges. Monthly rents range from $302 to $1,175, depending on income limits and size of unit.
Amenities include a second-floor outdoor terrace, multipurpose room, fitness center, common laundry and outdoor playground area. The building is certified as LEED Zero Energy, which will result in lower energy costs for residents.
The Michigan State Housing Development Authority allocated housing tax credits, which were purchased by KeyBank Community Development Lending and Investment to provide equity financing. KeyBank also provided a construction loan. Cedar Rapids Bank & Trust provided the permanent mortgage. The City of Marquette approved a Payment in Lieu of Taxes, and the Marquette Housing Commission provided eight project-based vouchers for rental assistance.
PCI Design Group Inc. was the architect, and Woda Construction Inc. served as general contractor. Woda Management & Real Estate will handle leasing and property management.