Niles Post Office Apartments
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Project Links
2021Year Built |
63Total Units |
Mixed-UseDevelopment |
The Niles Post Office Apartments is 63-unit workforce housing project in downtown Niles, MI. The project involved the rehabilitation of the City’s historic post office and the new construction of two buildings which encompass apartment units and commercial space. The project opened in the beginning of 2021 and was significantly leased by early Spring. The commercial space in the project is fully leased to Near North Title and Elara, a national provider of home-based health care. This is General Capital’s third affordable housing project in Niles. General Capital developed and currently owns the Berkshire Niles and the Four Flags Plaza Apartments in Niles, MI. The project was financed with tax credits from MSHDA and a conventional first mortgage and received a PILOT from the City of Niles.
KEY THEMES
- Historic adaptive reuse transformed Niles' former post office into the centerpiece of a new mixed-use workforce housing community
- Integrated redevelopment combines preservation of a significant downtown landmark with new residential and commercial construction
- Public-private partnership leveraged affordable housing tax credits, conventional financing, and municipal support to advance downtown investment
- Mixed-use planning incorporates workforce housing and neighborhood-serving commercial space within a walkable downtown environment
- Development expanded General Capital's commitment to affordable housing and community revitalization in Southwest Michigan
RESULTS
- Successfully completed a mixed-use redevelopment delivering 63 workforce apartment homes in downtown Niles
- Preserved and rehabilitated the historic Niles Post Office while adding two new buildings with residential and commercial space
- Generated strong residential demand with the community significantly leased within the first months following its early 2021 opening
- Achieved full lease-up of the development's commercial space, supporting additional business activity within the downtown district
- Established General Capital's third affordable housing investment in Niles, reinforcing a long-term commitment to the community
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