Traverse City is located in the northwestern part of the Lower Peninsula of Michigan, the county seat of Grand Traverse County, on Grand Traverse Bay. Traverse City is located 124 mi north of Grand Rapids, Michigan. It was founded in 1847 and incorporated as a city in 1895. Traverse City is primarily a resort and a cherry-shipping center and is the site of the National Cherry Festival held each year in July. A 2006 real estate survey has estimated the population of Traverse City, Michigan at 14,407.