MARQUETTE, MICH. — Woda Cooper Cos. and the Keweenaw Bay Indian Community (KBIC) have opened Black Rock Crossing in Marquette. Black Rock Crossing offers 50 affordable rental homes, including 26 one-bedroom apartments and 24 two-bedroom apartments. The units are reserved for residents earning a mix of incomes ranging from 30 to 80 percent of area median income. Nine units are set aside for members of KBIC.
Amenities include a second-floor outdoor terrace, a multipurpose room with a kitchenette, a fitness center, a laundry area, an outdoor playground and a patio with a grill and picnic table. The building is certified as LEED Zero Energy, a U.S. Green Building Council designation for properties that generate as much or more renewable energy than they consume.
The Michigan State Housing Development Authority allocated tax credits that were purchased by KeyBank Community Development Lending and Investment (KeyBank CDLI) in order to provide equity financing. Key Bank also provided a construction loan. Cedar Rapids Bank & Trust provided the permanent mortgage. The City of Marquette approved a Payment in Lieu of Taxes, and the Marquette Housing Commission provided eight project-based vouchers for rental assistance.