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*FOR IMMEDIATE RELEASE*
August 10, 2023
Contact:
[email protected]
*Gov. Whitmer Announces Support to Build & Upgrade Another 500 Affordable Housing Units Across Michigan *
*LANSING, Mich. – *Today, Governor Gretchen Whitmer and the Michigan State Housing Development Authority (MSHDA) announced more than $13 million in federal Low-Income Housing Tax Credits (LIHTC) have been awarded to support the development or rehabilitation of 500 future homes across 10 affordable housing projects from Marquette to Detroit. The total investment from these projects is over $173 million and will create over 30 permanent jobs and over 800 temporary jobs.
“In Michigan, we are building housing and revitalizing communities to make our cities and towns more affordable places to live, work, and invest,” said *Governor Whitmer*. “Housing is a national challenge, and in Michigan, we are taking bold actions to meet our goal of building or rehabilitating 75,000 housing units over five years. Having a safe, affordable place to call home is the foundation for upward economic mobility for families and the communities they choose to call home. Let’s keep building housing, lowering costs, and growing our economy.”
Developers that receive LIHTC awards can claim credits against their tax liability annually for up to 10 years – an important initiative that helps incentivize investments in affordable housing in local communities across the state. This current round of funding will enable the creation or preservation of 543 total rental units.
“These projects represent our commitment to ensuring residents across Michigan have access to housing that they can afford in the community they choose. Our projects not only provided much needed housing for residents, they also support and strengthen local economies and create opportunities for growth,” said* Tony Lentych, MSHDA’s chief housing investment officer*.
*A full list of development projects receiving LIHTC awards includes:*
*Project*
*City*
*Developer*
*LIHTC Award*
*LIHTC Units*
121 Catherine
Ann Arbor
Avalon Nonprofit Housing Corp. & Ann Arbor Housing Development Corp.
$1,500,000
63
900 Tuscola Street Midtown West
Detroit
Procida Development Group, LLC
$1,300,000
33
Black Rock Crossing
Marquette
Woda Cooper Development, Inc. & Keweenaw Bay Indian Community
$1,453,400
50
Cabot Apartments
Detroit
Trice Development Company, LLC & Cove Investments
$1,295,861
84
John Grace Arms
Southfield
Southwest Housing Solutions Corp. & Southfield Nonprofit Neighborhood Corp.
$1,304,500
60
Leonard Apartments
Grand Rapids
Genesis Nonprofit Housing Corp., Dwelling Place of Grand Rapids & Little River Development, LLC
$1,405,000
55
North Corktown Apartments
Detroit
MHT Housing, Inc. and Renovate Detroit, LLC
$1,189,900
49
Park Meadows Village – Phase I
Detroit
RAD Conversion Specialists, LLC & Resurrection Community Development Corp.
$1,500,000
70
Riverview 220
Lansing
Lansing Housing Commission & CCA Developer Two, LLC
$1,497,000
56
Washington Park
Owosso
Venture, Inc.; Capital Area Community Services; and Bailey Park Homes, L3C
$656,608
16
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