The Lofts at Lumber Square is a transformative 60-unit apartment community in downtown Petoskey that will provide long-term, attainable housing for up to 165 working residents. Designed to meet the urgent need of our community’s “missing middle”—hardworking, middle-income earners who contribute every day but still struggle to find a place to live in Emmet County— this project directly addresses the regional housing crisis that has left teachers, nurses, service workers, and other essential members of our workforce without realistic housing options in the very communities they serve.
More than just a housing development, The Lofts is about community resilience. Housing stability enables children to succeed in school, adults to maintain consistent employment, and families to thrive. When people can live where they work, they become more deeply invested in their neighborhoods, strengthening the fabric of the community. This project affirms that attainable housing is foundational to economic vitality, educational success, health outcomes, and overall community well-being.
According to a 2022 Housing North assessment, Emmet County needs at least 855 new rental units with the largest need for those priced under $1,660 per month. With an alarming 99.7% occupancy rate, rental options are nearly nonexistent. Healthy housing markets typically operate with a 5–8% vacancy rate, underscoring the depth of the crisis. The Lofts at Lumber Square offers a bold, community-driven solution.
Located at 900 Emmet Street, this $18 million development will offer 19 one-bedroom, 32 two-bedroom, and 9 three-bedroom apartments—renting between $1,225 and $1,650 per month—serving households with incomes approximately between $40,000 to $120,000, based on household size and current HUD income limits. Designed with livability in mind, the complex will feature shared community spaces, greenspace, a small fitness room, and a third-floor outdoor terrace with views of Little Traverse Bay. Its walkable location, adjacent to a community park, adds to its appeal for individuals and families alike.
The success of this initiative is rooted in creative collaboration. After a previous development effort stalled, the Community Foundation stepped in to acquire the land in May 2022, ensuring it would be used for workforce housing. Northern Homes Community Development Corporation, a trusted local nonprofit, will serve as the long-term owner and operator. Haan Development remains involved as a consultant, guiding the pre-development and construction phases.
Now, philanthropy is the final, vital partner. With construction plans ready and momentum growing, the project has a remaining funding gap of $300,000. Closing this gap requires the support of donors, grantmakers, and community champions who understand that housing is not a luxury—it’s a necessity. Your investment will help transform a vacant lot into 60 safe, affordable homes for our neighbors, and demonstrate that community-led solutions can create lasting, generational change.
The Lofts at Lumber Square isn’t just a housing project—it’s a commitment to a stronger, more inclusive Little Traverse Bay region where everyone who works here has a place to call home.