Whitmer announces support for the development, rehabilitation of 500 affordable housing units
(CBS DETROIT) - Gov. Gretchen Whitmer and the Michigan State Housing Development Authority announced over $13 million in federal support for the development and rehabilitation of affordable housing units across the state.
The funding from federal Low-Income Housing Tax Credits (LIHTC) will support 500 affordable housing units throughout 10 different projects.
Officials say any developer that receives a LIHTC award can claim credits against their tax liability every year for 10 years. This is to help incentivize developers to invest in affordable housing in Michigan.
"In Michigan, we are building housing and revitalizing communities to make our cities and towns more affordable places to live, work, and invest," said Governor Whitmer. "Housing is a national challenge, and in Michigan, we are taking bold actions to meet our goal of building or rehabilitating 75,000 housing units over five years. Having a safe, affordable place to call home is the foundation for upward economic mobility for families and the communities they choose to call home. Let's keep building housing, lowering costs, and growing our economy."
The investment from these affordable housing projects is over $173 million and will create over 30 permanent jobs and over 800 temporary jobs.
Here's the full list of projects:
Project | City | Developer | LIHTC Award | LIHTC Units |
121 Catherine | Ann Arbor | Avalon Nonprofit Housing Corp. & Ann Arbor Housing Development Corp. | $1,500,000 | 63 |
900 Tuscola Street Midtown West | Detroit | Procida Development Group, LLC | $1,300,000 | 33 |
Black Rock Crossing | Marquette | Woda Cooper Development, Inc. & Keweenaw Bay Indian Community | $1,453,400 | 50 |
Cabot Apartments | Detroit | Trice Development Company, LLC & Cove Investments | $1,295,861 | 84 |
John Grace Arms | Southfield | Southwest Housing Solutions Corp. & Southfield Nonprofit Neighborhood Corp. | $1,304,500 | 60 |
Leonard Apartments | Grand Rapids | Genesis Nonprofit Housing Corp., Dwelling Place of Grand Rapids & Little River Development, LLC | $1,405,000 | 55 |
North Corktown Apartments | Detroit | MHT Housing, Inc. and Renovate Detroit, LLC | $1,189,900 | 49 |
Park Meadows Village – Phase I | Detroit | RAD Conversion Specialists, LLC & Resurrection Community Development Corp. | $1,500,000 | 70 |
Riverview 220 | Lansing | Lansing Housing Commission & CCA Developer Two, LLC | $1,497,000 | 56 |
Washington Park | Owosso | Venture, Inc.; Capital Area Community Services; and Bailey Park Homes, L3C | $656,608 | 16 |
