Village of Honor / Benzie County -
HomeStretch, mentioned in the previous post, is also spearheading a new development in "downtown" Honor, called Honor Village Apartments. Honor is a small village along US Route 31, kind of in-between Frankfort and Traverse City. It has a population hovering around 200 (222 according to 2019 census estimates).
While this is a relatively small project - (8) 2 bed, 1.5 bath affordable rental units across two new buildings along
Main St. - it is significant for Honor, which has not seen new housing in the village core in...well, a while. And if each unit houses 2.5 people, that's 20 people - or almost 10% of the population of the village
Despite the fact that the below press release mentions 2 buildings of 4 units each, the rendering looks like a 6-unit building, which means that the second building is just 2 units. A $400K Affordable Housing Program grant from the Federal Home Loan Bank helped make this possible. Benzie County Land Bank donated the property and the Village of Honor is providing an adjacent parcel for tenant parking. Two units are earmarked for 30% AMI, two at 50% AMI, and the remaining four at 80% AMI or lower. It is a $1.4 million investment.
I'm pretty sure this is already under construction, and it was originally intended to be completed in Spring of 2021, although I do not know if that is still the case -
Source:
HomeStretch (edited)