LANSING – State Representative Mike Lahti (D-Hancock) today applauded nearly
$1.8 million in federal grants administered by the Michigan State Housing Development Authority (MSHDA) that will help pay to convert Crystal Manor in Iron County into a mixed retail-residential building with 25 apartments."In these tough economic times, too many of our hard-working families are struggling just to make ends meet," Lahti said. "This project will provide an affordable place for the families in our communities to live. Because of this funding 25 more families will have a great place to live in an excellent location."
The rehabilitation of the historic three-story Crystal Manor building in downtown Crystal Falls will create eight one-bedroom and 17 two-bedroom units. The first floor of the building will be rented as retail space. The building previously was used as an upscale hotel and a home for the elderly.
Hovey Corporation of DeWitt is the developer of the project and will have a $3.1 million mortgage with MSHDA to go along with the $1.8 million grant.
"This project will breathe new life into Crystal Manor," Lahti said. "This situation is great for families living there as well as for those who will find employment either in its construction or in the retail spaces. I'm looking forward to seeing this project get started as soon as possible."