A local developer plans to spend $14 million to build 70 homes along Muskegon Lake.
Each property is expected to be worth $150-300,000. Some will have beachfront and docks.
“I think the whole emphasis on brining people to live, work, and play downtown can having nothing but a major positive effect on our downtown rebuilding,” Steve Gawron, the mayor of Muskegon said.
Gawron and all other city planning commission members voted to approve phase one of the Terrace Point Landing project’s construction.
“’Muskegon has a lot of lakeshore that has never been developed,” Doug Pollock, the Shoreline Inn general manager said.
Shoreline Inn is owned by, Jon Rooks, the same man behind the Terrace Point Landing project.
Rooks also owns the Terrace Point Marina which is next door, and he owns Highpoint Flats.
The Flats is an old bank tower in the tax-free renaissance-zone that Rooks planned to sell as condos.
However, Rooks later switched the spaces to rental apartments because people were having trouble qualifying for loans after the housing crisis.
FOX 17 asked him how this project differs.
“This is in a site condominium, so there’s the benefit of an association, yet site condominiums are exempt from the Freddy Mac and Fanny Mae and FHA rules that have made it hard for people to finance condos,” he explained.
“This project will not have those issues,” he said.
Rooks said construction is expected to begin late 2013, and residents could start moving into their new homes next year.
