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Council approves brownfield/TIF plan to convert former Raleigh’s into seven apartments
Summary
Ishpeming council approved Resolution 11-2026 to support a brownfield tax-increment financing plan for 216 West Division Street that would renovate an 11,500 sq ft former retail building into seven units, leverage about $1.9 million in private investment and provide approximately $522,000 in reimbursements over 24 years.
The Ishpeming City Council voted to adopt Resolution 11-2026, supporting a brownfield/TIF plan to redevelop the former Raleigh’s furniture store at 216 West Division Street into seven residential units.
Jackie Solomon, director of the Brownfield Authority, told the council the project would redevelop an 11,500-square-foot building into a mix of one-, two- and three-bedroom apartments with roughly $1.9 million in private investment. Solomon said the redevelopment is expected to raise the property’s taxable value from about $136,000 to over $500,000 and that the brownfield reimbursement is approximately $522,000 paid over 24 years. She said the city is using the Act 381 work-plan mechanism to capture some state tax revenues, including state education tax, to help the project’s financing.
Solomon framed the project as a response to a documented housing shortage in Ishpeming. She cited a 2024 market analysis identifying a need for 38 new housing units per year and 20 rehabilitated units annually through 2029, and noted that more than half of renters in town pay over 30% of income on housing. The presenter said all seven units will be priced at or below 120% of area median income (AMI), with at least half at 80% AMI or below.
Council members asked clarifying questions about the 24-year reimbursement term and the mechanics of performance-based reimbursements; Solomon confirmed the term and noted brownfield reimbursements do not occur if the project fails to generate the anticipated tax increment. After the discussion the council moved, seconded and approved the resolution with one member recorded in opposition.
The plan had previously been approved by the local brownfield authority and the downtown development authority (DDA); if the council’s concurrence stands, the plan will move to the county for a public hearing in May as the next step in the approval process.
