Mike Lahti is an experienced developer with deep ties to Calumet and Michigan’s Keweenaw Peninsula. He had a vision to redevelop the former Morrison School into a mixed-use residential and commercial property. Built in 1919, Morrison School served as an elementary school until 1997 and is located in the Calumet Historic District.
MSHDA provided a Rental Rehabilitation Grant through CDBG funds, ensuring that seven of the units were reserved as affordable for the first cycle of tenancy. InSite Capital joined the project as the Historic Tax Credit investor. Construction financing was obtained through the local Miners State Bank, and Great Lakes Capital Fund provided a bridge loan for the project.
The Morrison-Calumet Apartments added 13 apartment units to the community. This renovation was instrumental in bringing more residents to Calumet and has helped revitalized the community.