Housing Choice Voucher Program
Information about the Project Based Voucher program.
State and national links to homeless and special housing needs information.
Standards of Design for Preconstruction manual and forms
Low Income Housing Tax Credits (LIHTC)
Information on Direct Lending Parameters, Gap Financing Programs, Equity Bridge Loan Program, Notice of Intent to Apply, LIHTC Application and Exhibit Requirements for Direct Lending Programs, Other Information (Mortgagor and Contractor's Cost Certification Guide and forms, HOME Subsidy Limits, Direct Lending Intake Forms, Contractor Requirements, and the Modified Pass-Through Program), Parameters
Information about the Pass-Through Bond Program
MSHDA HUD Section 3 policy and these guidelines have been prepared to provide information and guidance to Section 3 recipients on how the Michigan State Housing Development Authority (MSHDA) will administer the Section 3 regulations.
Search is currently unavailable. Please try again later.
The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer.
October 20, 2023
Media Contacts:
MSHDA Board approves funding for affordable housing and rehabilitation projects in Detroit, Bad Axe, Traverse City
Lansing, Mich. – At its October meeting, the Michigan State Housing Development Authority (MSHDA) Board approved funding for affordable housing and rehabilitations projects in Detroit, Bad Axe and Traverse City.
“These developments reflect the need for strong and diverse efforts to address the housing shortage in Michigan,” said Amy Hovey, executive director at MSHDA. “By financing new affordable housing projects and the rehabilitation of already established developments, MSHDA continues to make progress on the goal of 75,000 new or rehabilitated housing units by 2026.”
The Board approved an $18.5 million loan for Greenhouse Apartments, a senior development in Detroit with 209 senior units and 11 accessible units, 21 of which will be targeted to households whose incomes are at or below 40% of Area Median Income (AMI). The rehabilitation will create 36 temporary construction-related jobs.
Additionally, the Board approved mortgage loans for Parkview Apartments, a new-construction senor housing development in Traverse City. The $16.9 million development will be a four-story complex with 46 affordable units. Twenty-three units will be financed with Tax-Exempt Bonds and MSHDA gap funding, and 23 units will be financed with Taxable Bonds. The proposal will also feature 8 project-based voucher units from the Traverse City Housing Commission.
A $500,000 loan for the rehabilitation of Circle Drive II Apartments, a 112-unit family development in Detroit, was also approved. The rehabilitation will include replacing furnace heat exchangers, exterior paint and wood upgrades. Currently, 34 units are reserved for those at 50% of AMI and below – and will remain so through 2041.
The Board also approved a loan modification to Woodworth Square in Bad Axe that will re-amortize the development’s First Modification Loan over a 35-year period, adding approximately 15 years to the loan’s maturity date. The savings from the reduced mortgage payments will remain with the 28-unit senior development to pay for repairs, maintenance and other operating expenses.
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.
###