Niles officials and developers are working to close the city's housing gap
NILES, Mich – Niles City Administrators and developers are working to bring more housing options to the City of Niles.
Berkshire Niles, Four Flags Plaza and the unnamed project at the site of the historic Post Office building on Main street are three projects in the works with Wisconsin based developer General Capital.
One of the three projects, Berkshire Niles, is geared towards middle income seniors in an effort to close the low and middle income housing gap in Niles
“The city of Niles conducted a target market analysis for housing about two years ago, it identified the middle market of people which is typically the middle income earners, and we’re short about 650 units in our city” Niles City Administrator Richard Huff said.
An agreement between the city of Niles and Berkshire Niles’ developer General Capital was reached to bring the 53-unit development to the area.
Four Flags Plaza is in the process of being purchased by General Capital to be remodeled after reaching a deal for tax credits with the City and State.
The unnamed project known as the “Old Post Office project” is still in the planning stages. General Capital is discussing the possibility of receiving tax credits from the City of Niles and the State of Michigan. Details are currently being worked out by the parties involved.