PETOSKEY — The former Michigan Maple Block Factory in Petoskey will be redeveloped into an eight-building, 204-unit multifamily development, city officials said Tuesday.
After more than 100 years at the site, the factory closed its doors in 2020 during the pandemic. The site has since been vacant and seen as a priority site for redevelopment.
Along with the redevelopment, the community will add a bike/walking trail on the site’s east side to connect to downtown, as well as an easement to the city on the south end of the property for a pedestrian bridge to be built over the Bear River, serving as a connection to the North Country Trail.
”Maple Block Flats will supply much-needed housing for Petoskey and the Northern Michigan region as a whole,” said Jeff Smoke, managing director and principal for developer Great Lakes Capital. “This is the definition of a true public/private partnership with a multitude of workforce housing incentives being utilized for a project that would otherwise not be developable. We are fortunate to have the support of EGLE, MEDC, MSDHA, Emmet County Brownfield and Land Bank along with of course the City of Petoskey, who has been a strong supporter of this project since day one.”
The project will be supported by a $2 million Michigan Community Revitalization Program performance-based direct loan and state tax capture for Act 381 eligible activities, including lead and asbestos abatement, demolition, preparation and infrastructure improvements.
”The City of Petoskey appreciates the ongoing financial investment of the MEDC to support workforce housing initiatives,” said Petoskey City Manager Shane Horn. “This project converts a vacant, blighted industrial site along the Bear River to much-needed housing for Petoskey and Emmet County.”
The project is anticipated to be completed in spring 2026.
