The Broadway Lofts project marks the largest new development in 40 years in downtown Mt. Pleasant. The mixed-use development on a former brownfield site was announced in 2019 and started construction in May of 2020. Although impacts of COVID-19 created delays and hurdles for the build, residents were able to begin moving into the building in January 2022.

The building is designed to be a long-term investment into the fabric of the downtown with walkability to parks, shops, restaurants, and other amenities. It has 48 energy-efficient apartments with modern finishes including large windows, stainless appliances, quartz countertops, in-unit washers and dryers, and tile backsplashes. Layouts include studio, one-bedroom, and two-bedroom lofts. All the apartments are affordable for households earning under 120% area median income (AMI), with slightly more than half priced for households earning under 80% AMI.

Occupying roughly 10,000 square feet on the first floor is anchor tenant GreenTree Co-op Market. In this new larger space Green Tree is able to reach more shoppers and expand services that include a discount program and enhanced membership for Bridge Card and Snap Participants, serve more senior residents, and provide educational programming around healthy food.

The project received widespread city support with a reduced sale price of the land as well as approval of a Neighborhood Enterprise Zone Abatement and a Commercial Redevelopment Abatement. Additionally, the project received state support in the form of a low-interest loan from the Michigan Economic Development Corporation (MEDC) and grant funding from the Michigan Department of Environment, Great Lakes, and Energy (EGLE). Michigan Community Capital provided $9,000,000 in equity investment. The Broadway Lofts also received a loan from National Cooperative Bank and a New Markets Tax Credit allocation from Cinnaire and PNC because of the project’s positive impact including bringing housing and healthy food access to a low-income census tract.