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MSHDA Board approves funding for new construction projects in Detroit, Flint

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MSHDA Board approves funding for new construction projects in Detroit, Flint


Lansing, Mich. – At its July meeting, the Michigan State Housing Development Authority (MSHDA) Board approved mortgage loans for two major rental development projects in Detroit and Flint.

The Detroit development at 7850 E. Jefferson will feature affordable units with various income limits, including seven units reserved for households with incomes at less than 50% of the area median income (AMI) and 31 units (six studio units and 25 one-bedroom units) reserved for households with incomes that do not exceed 60% of multifamily tax subsidy projects income limits. The Board approved a $4.8 million tax-exempt bond construction loan to aid in the construction process, a permanent mortgage loan amounting to $1.3 million, and a Mortgage Resource Funds (MRF) loan of more than $180,000. The two four-story buildings, featuring 150 units in total, will be constructed with modular components.

“We’re proud to play such a significant role in new construction efforts that will increase the supply of affordable housing in Detroit and Flint. These projects, and many more, are taking us one step closer to achieving the governor’s goal of 75,000 new or rehabilitated housing units by 2027,” said Amy Hovey, executive director at MSHDA. “These developments presented unique opportunities to explore alternative building methods, including modular housing, and offer units to households with mixed income levels.”

The Board also authorized a $23.9 million tax-exempt construction loan for Clark Commons III, a 98-unit affordable housing project in Flint. This project will include 22 townhome style buildings and one three-story apartment building and will feature one-, two-, three-, and four-bedroom units. Clark Commons III will reserve a minimum of 20% of the units for individuals earning 50% or less than the AMI, or at least 40% of the units will be reserved for individuals earning 60% or less of the AMI.

Chad Benson, director of development, provided an update on the progress of the 2024-2025 Qualified Allocation Plan (QAP) which will be presented at next month’s meeting.


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.