Ten21 Apartments
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2021Year Built |
73Total Units |
Mixed-UseDevelopment |
The TEN21 Apartments is a 73 unit workforce housing complex located immediately outside of downtown Muskegon on a previously owned municipal lot that housed Muskegon’s City Hall. The project is a new construction 3-story building with underground parking. This is General Capital’s second project in Muskegon. 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
- Workforce housing development transformed the former Muskegon City Hall site into a new residential community near downtown
- Urban infill strategy returned a previously municipal property to productive use while expanding housing opportunities within the Muskegon market
- Public-private financing combined MSHDA housing tax credits, conventional mortgage financing, and municipal PILOT support
- Purpose-built design incorporates three stories of new housing with underground parking for added resident convenience
- Development expanded General Capital's investment in Muskegon as the company's second housing project within the community
RESULTS
- Successfully delivered 73 workforce housing apartments in Summer 2021
- Completed a new-construction residential development near Downtown Muskegon
- Redeveloped the former Muskegon City Hall property into productive new housing serving the local workforce
- Secured MSHDA tax-credit financing, conventional mortgage financing, and municipal PILOT support to advance the development
- Expanded General Capital's presence in Muskegon through its second housing development within the market
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