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Media contacts: Katie Bach, Bachk@michigan.gov
Tracey Houston, HoustonT1@michigan.gov
LANSING, Mich. -- The Michigan State Housing Development Authority Board made major investments today to advance six affordable housing projects across the state.
During its regular meeting, the board approved $146 million in overall investments that will create or preserve more than 900 apartments for seniors, individuals, and families with low and moderate incomes.
"These investments will help improve the rental housing landscape across Michigan and preserve affordable housing for years to come," said Jeff Donofrio, MSHDA Board chair and director of the state Department of Labor and Economic Opportunity. "The mix of new construction and property renovations will also create hundreds of jobs. In this time of economic uncertainty, MSHDA must do all we can to stimulate the economy and provide affordable housing to Michiganders who need it most."
The board approved a $25 million loan to Herman & Kittle Properties, Inc., to build CityLine Apartments, new construction of a 240-unit housing development in the city of Kentwood.
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All apartments will be reserved for tenants with low incomes, serving those at or below 60% of the Area Median Income (AMI).
The board also approved mortgage loans allowing the Pontiac Housing Commission to rehabilitate and convert its public housing development, Carriage Place Apartments, into a Section 8 development under the Rental Assistance Demonstration program. The 234 units, as well as the common areas and grounds will be completely remodeled.
The upgrades have been widely supported by local units of government.
"This is a win for the residents and the community," said Gary Heidel, MSHDA acting executive director. "It will provide for the preservation of the development, extend the affordability of apartments for residents for another 50 years, enable necessary in-unit improvements, and further extend the beautification to the common areas and grounds around the property."
To further enhance statewide rental development, the board adopted resolutions to authorize mortgage loans for several other projects, including:
Tracey Houston, HoustonT1@michigan.gov
LANSING, Mich. -- The Michigan State Housing Development Authority Board made major investments today to advance six affordable housing projects across the state.
During its regular meeting, the board approved $146 million in overall investments that will create or preserve more than 900 apartments for seniors, individuals, and families with low and moderate incomes.
"These investments will help improve the rental housing landscape across Michigan and preserve affordable housing for years to come," said Jeff Donofrio, MSHDA Board chair and director of the state Department of Labor and Economic Opportunity. "The mix of new construction and property renovations will also create hundreds of jobs. In this time of economic uncertainty, MSHDA must do all we can to stimulate the economy and provide affordable housing to Michiganders who need it most."
The board approved a $25 million loan to Herman & Kittle Properties, Inc., to build CityLine Apartments, new construction of a 240-unit housing development in the city of Kentwood.
More on Michimich.com
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All apartments will be reserved for tenants with low incomes, serving those at or below 60% of the Area Median Income (AMI).
The board also approved mortgage loans allowing the Pontiac Housing Commission to rehabilitate and convert its public housing development, Carriage Place Apartments, into a Section 8 development under the Rental Assistance Demonstration program. The 234 units, as well as the common areas and grounds will be completely remodeled.
The upgrades have been widely supported by local units of government.
"This is a win for the residents and the community," said Gary Heidel, MSHDA acting executive director. "It will provide for the preservation of the development, extend the affordability of apartments for residents for another 50 years, enable necessary in-unit improvements, and further extend the beautification to the common areas and grounds around the property."
To further enhance statewide rental development, the board adopted resolutions to authorize mortgage loans for several other projects, including:
- HOM Flats at Felch Street, Holland Township/Ottawa County, $21 million, 114 family units
- The Marwood, Detroit/Wayne County, $17.5 million, 71 affordable units
- Village at LaFranier Woods, Garfield Township, Grand Traverse County, $26 million, 115 units – 59 affordable, 55 market rate, one manager unit
- Westchester Village South, City of Saginaw/Saginaw Township, Saginaw County, $18 million, 149 affordable senior units
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