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  • Writer's pictureERG

Petoskey's New Affordable Housing Project, Isn't All That

Happy 2024! And, congrats to all you families of four making $100K ... You will soon be able move into a new, government-subsidized three-bedroom apartment on Emmet Street in Petoskey.

You mean, that's not one of your New Year's resolutions? What are we missing?

With the financial help of generous, non-elected government bureaucrats, we were able to witness the ground-breaking ceremony at The Lofts at Lumber Square, a 60-unit apartment 'project,' promising affordable rental units to middle-income folks for the next fifty years. Nearly half (43%) of the funding for this 'project' comes via the Michigan Strategic Fund, an arm of the Michigan Economic Development Corporation, which never represents the best interests of the everyday taxpayer.

One would think that having that everyday taxpayer pay $7.2 million of the $16.6 million price tag would result in more affordable rents, but the $1150, 1350 and 1550 per month for 1, 2, and 3 bedroom apartments sound like the same rents so many are complaining about now.

But look at the positives the 'project' brings: More Petoskey public school students (ka-ching!), more transit advocates, more WOKE voters, more fast food. What could go wrong?

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