TRAVERSE CITY — The new 77-unit, four-story Breakwater apartment building has had no trouble finding tenants.
“We’re pretty much full,” Innovo Development Group owner Brian Mullally said during an open house event Thursday.
Innovo bought the riverfront property at the corner of Union and Garland streets in December 2017. It broke ground in August 2018.
Completed late this year, the project came in “pretty close to budget,” said Mullally.
Each unit includes a balcony, either overlooking the Boardman River or facing north toward West Grand Traverse Bay.
Rents range from $1,075 for a studio apartment to $4,800 a month for a three-bedroom penthouse.
There’s on-site private permit parking, a gated private dog park, a partially green roof, electric car-charging stations, a dog-washing station and shared indoor bicycle storage.
The development’s ground floor includes 10,000 square feet of retail space.
Innovo planned from the start to use half that space for a 400-seat restaurant. The COVID-19 pandemic has cut deeply into restaurant operations in Traverse City and elsewhere. But Mullally is confident Breakwater’s commercial space will find tenants.
“We’re definitely making headway,” he said.
“We’re pretty much full.” Innovo Development Group owner Brian Mullally