Hollander Development Corporation, an experienced developer of affordable housing, took advantage of the opportunity to construct a new, 25 unit, affordable senior housing apartment building on the shore of Hart Lake in downtown Hart, Michigan.
Site costs were higher than expected due to the location and topography. InSite Capital became a direct investor and added funds to the project through tax credit equity and provided construction and bridge financing for the new apartments.
Lake Pointe Apartments offer one and two bedroom apartments with spacious, unique floor plans with natural lighting and beautiful views of Hart Lake. All of the apartments were pre-leased prior to the building’s opening. The three story building is located within walking distance from most major community services and amenities. A new heated sidewalk running from the property to downtown provides residents with easy access to shops and restaurants.