Michigan Housing Authority Awarding Over $13 Million For 690 New Units In Detroit, Other Communities
(CBS Detroit) -- More than $13 million has been awarded in Low-Income Housing Tax Credits (LIHTC) to build new affordable multifamily rental housing or to rehabilitate existing properties, a total of 690 housing units.
The development projects that will receive funding are located in Detroit and 10 other communities, Gov. Gretchen Whitmer and the Michigan State Housing Development Authority (MSHDA) announced Wednesday.
The development project in Detroit is the Lee Plaza, which is awarded $1.5 million -- the highest amount awarded -- for 52 new apartments. A total of 14 projects will be awarded under the LIHTC.
"Not only will these 14 projects provide greater access to affordable housing for Michigan families, but they will also stimulate local economic growth and bring us even closer to the goal of providing every Michigander with access to safe, quality, affordable housing," said Chad Benson, MSHDA rental development director.
Whitmer said the funding also helps jump-start the MI New Economy plan, which has a goal of creating 75,000 new or rehabilitated housing units within the next five years.
"Investments in housing help us put Michiganders first and are critical to furthering our economic momentum," the governor said in a statement. "When families have a place to call home, it leads to upward mobility, a higher quality of life, and thriving communities. This program helps us lower costs for working families by providing housing stability and opportunity."
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The development projects receiving LIHTC awards:
Property
|
City
|
Developer
|
Award
|
Units
|
Walter French | Lansing |
1900 Cedar Development, LLC & Capital Area Housing Partnership
|
$1,500,000 | 52 new apartments |
Orchard Manor | Flint |
Communities First, Inc. & RAD Conversion Specialists, LLC
|
$779,625 | 34 new apartments |
700 E. Court Street Village | Flint |
Presbyterian Villages of Michigan & McFarlan Charitable Corp.
|
$1,500,000 | 119 renovated apartments |
The Blackstone | Jackson |
MVAH Holding LLC & Jackson Housing Commission
|
1,192,000 | 53 new apartments |
Lake Huron Woods Phase 2 Apartments | Fort Gratiot Township |
Presbyterian Villages of Michigan & Port Huron Housing Commission
|
1,181,252 | 45 new apartments |
Lexington School Apartments | Grand Rapids |
Commonwealth Development Corporation of America & Edifici, LLC
|
$874,283 | 39 new apartments |
MoTown Square Affordable Assisted Living | Grand Rapids |
LINC Up Nonprofit Housing Corporation & MoTown Square Development
|
$1,337,120 | 54 new apartments |
Center City Lofts | Midland |
Spire Development, Inc.
|
$1,138,000 | 55 new apartments |
GTB LIHTC #1 | Garfield Township |
Grand Traverse Band of Ottawa and Chippewa Indians & RTHawk Housing Alliance
|
$638,539 | 36 new apartments |
Lee Plaza | Detroit |
Ethos Development Partners & The Roxbury Group
|
$1,500,000 | 52 new apartments |
West Belding | Belding |
Cove Investments, LLC & Community Advancement Advisors, LLC
|
$444,584 | 48 renovated apartments |
Bramblewood Apartments | Lenox Township |
PK Development Group, LLC
|
$298,676 | 32 renovated apartments |
Remus Apartments | Remus |
Tpenland LLC; James 127 LLC; Cree Construction Co. 1 LLC, D & D Consultants LLC
|
$397,892 | 47 renovated apartments |
Perry Acres | Lenox Township |
PK Development Group, LLC
|
$250,118 | 24 renovated apartments |