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October 02, 2020
Media Contact:
Tracey Houston, HoustonT1@michigan.gov
Katie Bach, BachK@michigan.gov
Oct. 2, 2020
LANSING, Mich. –The Michigan State Housing Development Authority (MSHDA) is awarding $17.8 million in Low-Income Housing Tax Credits (LIHTC) to create or rehabilitate rental properties in urban and rural areas of the state.
MSHDA invests in programs that put quality housing within reach for Michigan individuals and families. The 17 LIHTC-backed projects will provide more than 950 affordable housing units in urban and rural communities.
“By investing in affordable housing we’re doing more than just putting a roof over a family’s head, we’re building stronger communities. These new projects will create an estimated 3,520 jobs and leverage $220 million in private investments in communities across Michigan,” said Jeff Donofrio, MSHDA Board chair and director of the Dept. of Labor and Economic Opportunity.
Of the 17 total projects, 13 are new construction, which will bring 621 much needed, new, affordable apartments online. Four existing properties will see 350 apartment units rehabbed.
“MSHDA’s partnership with private developers is a win-win for the state. By increasing the availability of affordable housing, MSHDA is making sure that families can continue to live a great quality of life and communities have the housing they need to grow,” said Gary Heidel, acting executive director for MSHDA.
LIHTC are federal tax credits administered by MSHDA through a competitive application process. Developers can draw from their tax credit amount annually for 10 years, keeping housing affordable over the long term and sustaining major investments in local communities.
The 17 projects that earned LIHTC awards in this funding round are:
The Grand on University, Flint
Developer: Communities First, Inc. & RAD Conversion Specialists, LLC
LIHTC award: $1,316,433
Units: 48 new apartments
Edison Crossing, Mt. Clemens
Developer: The Woda Group, Inc.
LIHTC award: $809,680
Units: 30 new apartments
Brush, Detroit
Developer: American Community Developers, Inc.
LIHTC award: $1,500,000
Units: 64 new apartments
Reverend Dr. Jim Holley Residences, Detroit
Developer: MHT Housing, Inc. & The Historic Little Rock Baptist Church
LIHTC award: $1,031,459
Units: 30 new apartments
Riverview Terrace, Traverse City
Developer: Traverse City Housing Commission, Cove Investments, LLC; and Ethos Development Partners, LLC
LIHTC award: $677,281
Units: 57 rehab apartments
Century Terrace & Harborview Apartments, Manistee
Developer: Commonwealth Development Corporation of America & City of Manistee Housing Commission
LIHTC award: $1,474,000
Units: 167 rehab apartments
Wellspring, Farmington Hills
Developer: Southwest Housing Solutions Corporation
LIHTC award: $1,317,516
Units: 81 new apartments
Midtown Square Apartments, Detroit
Developer: John Stanley Inc. & Develop Detroit, Inc.
LIHTC award: $1,229,873
Units: 73 rehab apartments
Shelby Trails, Shelby
Developer: Oceana County Housing Commission NP Corp
LIHTC award: $450,815
Units: 15 new apartments
Bingham Apartments, Alpena
Developer: Hope Network Housing Development Corp & Cove Investments, LLC
LIHTC award: $702,257
Units: 35 new apartments
Belknap Place, Grand Rapids
Developer: PK Companies, LLC & Third Coast Development, LLC
LIHTC award: $906,067
Units: 50 new apartments
Samaritas Affordable Living Muskegon, Muskegon
Developer: Samaritas & Communities of Hope, Inc.
LIHTC award: $1,020,000
Units: 53 new apartments
Woodward Way, Meridian Township (East Lansing area)
Developer: The Woda Group, Inc.
LIHTC award: $985,220
Units: 49 new apartments
Ruth Park, Traverse City
Developer: The Woda Group, Inc.
LIHTC award: $1,214,653
Units: 58 new apartments
Friendship Meadows II, Detroit
Developer: Communities of Hope, Inc & SPM Property Group, LLC
LIHTC award: $476,964
Units: 53 rehab apartments
Left Field, Detroit
Developer: American Community Developers, Inc.
LIHTC award: $1,207,610
Units: 60 new apartments
Clark Commons II, Flint
Developer: Norstar Development USA, LP & Flint Housing Commission
LIHTC award: $1,499,798
Units: 48 new apartments
About MSHDA
The Michigan State Housing Development Authority (MSHDA), established in 1966, provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant cities, towns and villages, and address homeless issues.
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