Krimson- Central Park Apartments- 2633 N Three Mile Rd

Krimson-Central Park Apartments is a Housing Property involving Housing Tax Increment Financing.

Michigan Public Act 90 of 2023, an amendment to Act 381 that went into effect on July 19, 2023, provides new opportunities to support certain housing development activities using tax increment revenues (“Housing Tax Increment Financing” or “HTIF”) by adding new terms to the definition of both Eligible Property and Eligible Activities, as these terms are defined in Section 2 of Act 381, specific to projects including housing (rental and/or for-sale). 

Specifically, Housing Property (as defined below) that is located in a community that has identified a specific housing need and has absorption data or job growth data included in the Plan is now an Eligible Property and the cost of Housing Development Activities (as defined below) associated with such Housing Property maybe supported by HTIF under a Plan or amendment to a Plan

Site History

The earliest readily available document reviewed as part of this assessment was a 1938 aerial photograph, which depicts the subject property as being developed with a rural residence that was comprised of three structures. Overtime the structures were removed from the subject property with the last demolished in 1999 by the current owner. During this time the subject property was utilized as pastureland and/ or hayfield. Historical wetlands were drained from the subject property following purchase of the property in 1999. Since 1999, the subject property has been utilized for agriculture and recreational hunting by the current owner. No other uses of the subject property were reported or determined to have occurred.

Redevelopment

Traverse City-Central Park LLC, managed by Krimson (the Developer), proposes to build a 240-unit multifamily housing development on an approximately 19.99-acre, vacant parcel along Three Mile Road north of Meadowlands Industrial Park/Vanderlip Road and southwest of the Grand Traverse Regional Land Conservancy headquarters in East Bay Township (the Township). Ten three-story buildings will be constructed, each with twenty-four apartments ranging from one bedroom (605-633 square feet) to three bedrooms (1,307 square feet). 

The project aligns with the Township’s Master Plan and its goals, which support workforce housing. Proposed amenities include a clubhouse, carports, a dog park, a fitness center, a business center, a playground, bus stops for school and BATA buses, and greenspace with walking paths and picnic areas connected to a new TART trail along Three Mile Road. The project received planning approval from the East Bay Township Planning Commission in March 2025. Pursuant to Township planning requirements, the project includes bicycle parking and laying conduits for future installation of electric vehicle charging stations. Landscaping consists entirely of species native to the region. Outdoor lighting is compliant with dark sky requirements.

Act 381 Brownfield Plan (PDF)