The Spring Lake Village Planning Commission has approved “in concept” plans for a 24-unit apartment community for senior citizens, age 55 and older, on vacant land between Cutler and Park streets, behind the Arby's restaurant.
Construction of Mill Point Manor, with three one-bedroom and 21 two-bedroom units, could begin as early as this fall. Mount Pleasant-based developer Phil Seybert, who also owns Lloyd's Bayou Senior Apartments in Spring Lake Township, said timing will depend on how long it takes the state to process paperwork.
The village approved the project in 2007 under the name Cutler View, but plans for the senior apartments took a nosedive when the economy tanked.
Like Lloyd's Bayou, Mill Point Manor would be set up with tax credits from the state. The apartments would be available for low- to moderate-income residents whose income is less than 60 percent of the area's median.
Village Council has approved a “payment in lieu of taxes” plan for Mill Point Manor. Under that structure, the village will receive 4 percent of the complex's gross rental income, which is estimated at $7,000 to $7,500 per year.
Village Manager Chris Burns said the vacant parcel currently brings in about $100 in annual property taxes.
Burns said there has not been any interest in the property other than by Seybert, who is partnering on the project with local land owners Chad and Chris Peel.
Seybert said he had a waiting list for the apartments on the first go-around. He said the state had approved a “reservation of credits” for the project in 2009, but he decided not to proceed with the Cutler View project because of the economic downturn.
To read more of this story, see Saturday’s print or e-edition of the Grand Haven Tribune.