HighPoint Flats: Muskegon officials can't wait until downtown apartments are available | MLive.com
With expected approval of a state financial loan and grant package from the Michigan Economic Development Corp. in September, a development agreement with the city calls for construction to begin in the next three months. The HighPoint Flats apartments would take 18 months to construct, developer Jon Rooks has said......The city is assisting HighPoint Flats with a “brownfield” redevelopment incentive, allowing future increases in property taxes on the property to be used to help pay off Parkland’s state loans up to $750,000.
“The sooner we can get those apartments available the better,” said Cindy Larsen, president of the Muskegon Lakeshore Chamber of Commerce......
“There is a huge market for young professionals looking for upscale residential, but they are not ready to buy a house yet.
They are looking for urban apartments like these.”
And just who will be paying off those "loans", grant packages and "brownfield incentives"?
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