Housing Study for New Residential Opportunities in Battle Creek, Albion
The results of a recent study on housing in local downtown areas are to be presented over the next week in Battle Creek and Albion.
Here are the details from the city of Battle Creek's press release:
A study, partially funded by a state grant, identified the potential for downtown housing opportunities in the downtowns of Albion and Battle Creek.
The Calhoun County Land Bank Authority received the grant from the Michigan State Housing Development Authority, in collaboration with the county treasurer, the city of Battle Creek Planning and Community Development departments, the city of Albion and the Albion Economic Development Corporation. The grant and matching dollars funded a housing Target Market Analysis of the downtowns and adjacent neighborhoods of the two cities.
The study determined the market potential for new residential development opportunities in downtown Battle Creek and downtown Albion. For Albion, an annual average of nine hundred (900) households represent the potential of new renters and buyers willing to move into the study area; about half have incomes at or above 80% area median income. This translates into a market potential of two hundred and fifty (250) new rental and for-sale dwelling units that could be constructed or created though reuse in the next five to seven years.
The Battle Creek study identified an annual average of one thousand two hundred and twenty households (1,220) that represent the market for new renters and buyers willing to relocate to the study area. Of that, half have incomes at or above 80% of the area median income. Over the next five years, the market in the study area could absorb between 375 and 455 new rental and for-sale market-rate dwelling units that are either newly constructed or developed through adaptive reuse of existing space.
“The study shows that there is a market for a variety of new housing types in both cities, and that by offering alternative housing choices, such as converting upper stories of downtown buildings to apartments or condominiums, we can attract new residents to our downtowns. Adding residents to the downtown areas will bring vitality and serve as a catalyst for additional investment,” said Christine Schauer, County Treasurer and Chair of the Calhoun County Land Bank Authority.
A public presentation by Laurie Volk, of Zimmerman/Volk Associates, is scheduled in each community. For Albion that will take place on Tuesday, June 2 from 5:30 to 7 p.m. at Cascarelli’s located at 116 S. Superior Street. For Battle Creek, the meeting will take place from 8:30 to 10 a.m. on Thursday, June 4 at 117 W. Michigan Ave, Battle Creek.