PETOSKEY — A new workforce housing development is now open in Petoskey, offering relief in a community facing a critical housing shortage.
The Lofts at Lumber Square adds 60 rental units near downtown Petoskey, built on a previously contaminated site. Community leaders say the project is a major step toward addressing Emmet County’s growing housing crisis.
According to David Jones, executive director of the Petoskey Harbor Springs Area Community Foundation, a recent housing study found the county is short hundreds of rental units, with an even larger gap when including homes for sale.
He said the lack of housing has made it difficult for employers to hire and retain workers, forcing many people to commute long distances just to work in the area.
The location of the Lofts was a key factor in the project’s success. The site is walkable to downtown Petoskey, nearby schools, parks, and North Central Michigan College, reducing transportation challenges for residents.
The Community Foundation raised $3.5 million in philanthropic support and purchased the property before transferring it to Northern Homes CDC, the nonprofit that owns and operates the development.
Jones says while the Lofts at Lumber Square won’t solve the housing shortage on their own, they represent momentum and proof that collaborative solutions can work. He said that workforce housing will remain a long-term priority as the region continues to grow.