The Residences at North Harbor
Multifamily | 21 Units Available | Michigan Tax Opportunity Zone
Marketing description
The Residences at North Harbor
Marquette’s Premier Waterfront Living
The Residences at North Harbor represent the pinnacle of modern luxury on the shores of Lake Superior. Nestled along the pristine coastline of Marquette, Michigan, this exclusive condominium development offers an unparalleled blend of natural beauty and sophisticated urban living.
The Waterfront Lifestyle
Experience the power and serenity of the "Big Lake" from your doorstep. Residents enjoy private access to over 500 feet of sandy beach frontage, ideal for morning walks or watching the sun rise over the water.
Prime Location: Situated at the corner of Lakeshore Boulevard and Hawley Street, the property is adjacent to Clark Lambros Park and a short walk from the iconic Presque Isle Park ("The Island").
Unobstructed Views: Each unit is designed to maximize the stunning vistas of Lake Superior, featuring large windows and private balconies or patios that bring the lake into your living room.
Refined Modern Interiors
Designed with a clean, open-concept aesthetic, the residences offer spacious layouts ranging from efficient 1-bedroom units to expansive 4-bedroom homes (up to 2,095 sq. ft.).
Gourmet Kitchens: Featuring high-end finishes including granite or marble countertops, custom cabinetry, stainless steel appliances, and large kitchen islands.
Premium Finishes: Interiors boast black-framed windows for a contemporary look, hardwood and ceramic tile flooring, and abundant natural light.
Convenience: Every unit includes an enclosed, attached garage space and in-unit laundry facilities.
Community & Connection
The development is designed to foster a sense of community while providing the privacy of a luxury retreat.
Outdoor Amenities: Shared spaces include fire pits, grilling stations, and social gathering areas designed for relaxation.
Active Living: Immediate access to Marquette’s extensive multi-use path system, perfect for biking, running, or walking into the vibrant downtown district.
Exclusivity: With only 27 luxury units in this high-demand phase, North Harbor offers a quiet, tranquil setting within the city limits.
Investment Note: These residences are located within a federally designated Michigan Opportunity Zone, providing investors with significant potential for capital gains tax deferral and tax-free appreciation on a 10-year hold.
Investment highlights
The Tax Benefits for Investors
By investing in a Qualified Opportunity Zone (QOZ) property through a Qualified Opportunity Fund, you can access three primary tax breaks:
Capital Gains Deferral: You can defer paying federal taxes on any recent capital gains (from the sale of stock, real estate, or other assets) by reinvesting those gains into the project. This deferral lasts until December 31, 2026.
Tax Reduction: If the investment is held for at least 5 years, your tax liability on the original deferred gain is reduced by 10%. If held for 7 years, that reduction increases to 15%.
Tax-Free Appreciation (The 10-Year Benefit): This is the most significant advantage. If you hold your investment in the Opportunity Zone for at least 10 years, you pay zero capital gains tax on any appreciation of that new investment.
Why The Residences at North Harbor?
Located on the shores of Lake Superior, this development combines luxury living with the economic incentives of the Michigan Opportunity Zone program. It is an ideal vehicle for "patient capital" looking for long-term growth in one of Michigan's most scenic and developing areas.
You can find more detailed information on the state's program and map designations at the official Michigan Opportunity Zones website: michigan.gov/opportunityzones.
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