Housing developers considering Ludington
Two separate developers have expressed interest in buying the soon-to-be-vacant Foster and Lakeview elementary schools, Ludington City Manager Mitch Foster confirmed with the Daily News. The developers have experience turning former school buildings into housing in other communities, he said.
“There are two developers we’re working with,” Foster said. “They’re looking at (creating) workforce or senior housing, with the potential also for a community center.”
The developers are in the very early stages of considering the properties, Foster said. No agreements have been made, so the properties are available for any number of developers to consider purchasing them, he added. The Foster and Lakeview properties garner more interest from developers, Foster explained, because their locations only a few blocks from downtown and the lakeshore increase their possibility of getting grant funds to help finance redevelopment projects.
Foster also said he has met with a developer about a potential housing project within the city that would be for tenants who have incomes of $15 to $25 per hour.
He clarified that this developer is not either of the two developers that are considering the Foster and Lakeview buildings.
However, he neither confirmed nor denied if the developer is the one that has been pursuing the construction of the so-called Depot Apartments at the former railroad depot at 705 S. Madison St.
That project received the property rezoning, payment in lieu of taxes and municipal services agreements needed from the city, but its application for rental housing tax credits from the Michigan State Housing Development Authority was initially denied. The tax credits are needed to make the project financially feasible, according to the developer, Herman & Kittle Properties. The developer applied for the credits again on April 1 and will likely receive a response in July.