MI New Economy
This significant $100 million investment will expand access to affordable and attainable housing, help close equity gaps and support the development of vibrant communities. The flexibility of the HCDF will provide MSHDA with an important toolkit for meeting unique housing challenges across the State, and it can specifically target workforce housing and "missing middle" housing for those transitioning from low-income into middle-income housing, two areas of need in Michigan. By leveraging additional private capital, the State's $100 million investment will be further amplified. The current magnitude of the housing shortage is so large that solving the supply problem will take significant coordination of both public and private resources, coordination that the HCDF was designed to do. This investment has the potential to assist 6,000 families, produce 2,000 rental units and leverage an additional $380 million in private funding.