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March 25, 2026
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MSHDA Board Approves Funding for 490 Affordable Housing Units
LANSING, Mich. – The Michigan State Housing Development Authority (MSHDA) Board authorized funding for housing developments in Grand Traverse, Washtenaw, and Wayne counties, creating or preserving 490 affordable housing units across the state.
“We remain focused on closing the 119,000 housing unit gap and expanding access to homes people can realistically afford. Closing this gap is essential to Michigan’s long-term economic health and growth,” said Amy Hovey, MSHDA CEO & Executive Director. “The progress we’re making reflects MSHDA’s thoughtful investment, collaboration, and innovation to ensure every Michigander has a place to call home.”
The Flats at Carriage Commons Phase II in Garfield Township, Grand Traverse County was approved for $9.5 million in MSHDA funding for the new construction of 48 housing units, five of which will be accessible. All units will serve households between 30% and 70% of Area Median Income (AMI).
The board authorized $118.6 million in funding for 350 South Fifth Avenue in Ann Arbor. This new construction development will bring 330 affordable units, with 29 accessible units to the community. Residents will have access to amenities including a fitness center, community rooms and co-working space, along with 6,000 square feet of commercial space. When complete, this development will be Ann Arbor’s first high-rise all affordable apartment building.
Villa St. Clare in Livonia was approved for $16.8 million in MSHDA funding for the creation of 68 senior units, with six accessible units. This development will be an adaptive reuse of the Blessed Virgin Mary Convent. Units will be available to those between 30% and 80% AMI.
The board approved the sale of Single-Family Mortgage Revenue Bonds, 2026 Series A and B bonds to fund down payment assistance and mortgages at reduced interest rates to make homeownership more attainable for Michigan residents. The board also approved two new liquidity facilities associated with the Single-Family Mortgage Revenue Bonds, 2022 Series B and C.
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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.