Woda Cooper Companies, Inc. (Woda Cooper) and the Keweenaw Bay Indian Community (KBIC) hosted a Grand Opening and Ribbon-cutting ceremony to celebrate the opening of Black Rock Crossing, 1506 W. Ridge Street, Marquette, MI.
The City of Marquette provided strong support for Black Rock Crossing to expand housing options for low- and moderate-income residents, including KBIC tribal members and their descendants. The City’s leadership approved a critical Payment in Lieu of Taxes (PILOT) to bolster the development’s opportunity to achieve a tax credit allocation from the Michigan State Housing Development Authority (MSHDA) and to satisfy investors and lenders. Project-based rental assistance is provided for eight units through the Marquette Housing Commission (MHC).
Black Rock Crossing offers 50 affordable rental homes, including 26 one-bedroom apartments and 24 two-bedroom apartments. The apartments are targeted to residents at a mix of incomes from 30% to 80% of the area median income (AMI) with the average of 60% AMI across the property. Rents range from $302 to $1,175 per month, depending on income limits and size of unit with eight receiving rental assistance from MHC. Nine of the 50 units are set aside for members of KBIC.
