Gene Carlson says investing in his own community is a wise business decision — while being potentially lucrative.
When many communities across the state continue to struggle in today’s economy, Carlson, a local real estate investor, believes the future is bright for downtown Lake Orion.
As evidence, he is currently in the process of renovating a historic house at 46 W. Flint St., which will eventually serve as the home of his business and as commercial rental property.
The former residence, whose main level is presently occupied by a hair salon, dates back to the 1880s. Carlson considers the structure one that is perfect for historic preservation.
Carlson is one of several business and building owners who attended a recent Lake Orion DDA-sponsored program which promoted the tax benefits of restoring buildings in the village’s newly designated Historic District.
He believes that the property’s location, just east of M-24, makes it ideal for taking advantage of the available tax incentives.
‘This is a one-of-a-kind building in Lake Orion,? says Carlson. ‘It’s the first building you see (on Flint St.) when pulling into the downtown area off M-24. The benefits for me and the village are significant. If I have a chance to get 25 percent of my money into tax credits, that’s great.?
A Lake Orion resident for 11 years, Carlson left a position at General Motors three years ago to begin investing in properties around the state.
He and a business partner own two properties in Grand Rapids, while he has sole ownership of the Flint Street property.
‘I have a real interest in historical buildings,? says Carlson. ‘This is my community and I plan to stay here.?
Once the project is completed, which he expects to take another year or two, he plans to move his business into the rear of the 2,800-square-foot building.
‘It’s going to take some time to get it into shape,? says Carlson, but he believes it will be money, time and effort well spent.
So far, with the help of project assistant Suzi Whyman and Julie Courtney, a historical preservation technical assistant with Oakland County, the building boasts a new roof and a spindled railing around the front porch.
Courtney has come up with a plan to decorate the structure and restore it back to its original look, even down to the paint color.
‘Lake Orion is one of 12 Oakland County communities that have Main Street designation,? said Courtney, ‘so we are able to offer design assistance.
‘This is one of our first projects of the fall,? she added, pointing out that each county can apply for two such projects annually.
Carlson asks that anyone with information or old photos of the property to contact him at 248-933-3509.