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Labor and Economic Opportunity

MSHDA awards $27.9 million in tax credits for affordable housing development projects across Michigan

July 15, 2021

Media Contact:
Katie Bach, BachK@michigan.gov
Anna Vicari, VicariA@michigan.gov

LANSING, Mich. - The Michigan State Housing Development Authority (MSHDA) today announced its largest award in recent history of more than $27.9 million in Low-Income Housing Tax Credits (LIHTC), which will be used to construct new affordable multifamily rental housing and to rehabilitate existing properties for low- to moderate-income Michigan residents.

MSHDA's latest LIHTC funding round will support the construction and renovation of more than 1,400 affordable housing units in rural and urban communities throughout the state. Of the 25 LIHTC-funded projects, 20 involve new construction -- creating over 1,000 new affordable apartments. Five existing projects also will see rehabilitation and renovation in approximately 470 units.

"When people have an affordable place to call home in their community, they have the dignity, stability, and peace of mind knowing one of their basic needs are met," said Governor Gretchen Whitmer. "Investments in housing are foundational to continuing our economic jumpstart and I am grateful to MSHDA for helping hundreds of families find home and have a launching pad to pursue their potential."

LIHTC are federal tax credits administered through MSHDA following a competitive application process. Developers who are recipients of LIHTC funds can claim credit against their tax liability annually for up to 10 years, thereby continuing to incentivize investing in affordable housing in local communities.

"These 25 new projects will create an estimated 2,000 jobs, stimulate local economic growth, and bring needed new and improved safe, decent and affordable housing options to areas where it is needed most," said Chad Benson, MSHDA rental development director.

The development projects receiving LIHTC awards:

530 Rose, Kalamazoo

Developer: Jon Durham and PS Equities

LIHTC award: $1,034,000
Units: 64 new apartments

900 Division (9%), Grand Rapids

Developer: Ginosko Development Company and United Methodist Community House Inc

LIHTC award: $1,130,134

Units: 47 new apartments

AFG Miller Grove Center, Detroit

Developer: Full Circle Communities, Southwest Counseling Solutions, and Alternatives For Girls

LIHTC award: $1,450,000

Units: 45 new apartments

Avenue II Apartments, Grand Rapids

Developer: LINC UP

LIHTC award: $346,583

Units: 20 rehab and new apartments

Bronson Senior Apartments and Meadowview Senior Apartments, Bronson & Coldwater

Developer: Renovo Development Group LLC and Cove Investments LLC

LIHTC award: $262,847

Units: 40 rehab apartments

Brush Park Apartments, Detroit

Developer: MHT Housing Inc.

LIHTC award: $1,070,000

Units: 53 new apartments

Coldwater Senior Villas, Coldwater

Developer: MVAH Holding LLC and St. Mary Development Corporation

LIHTC award: $964,590

Units: 48 new apartments

Dunn Family Senior Co-Op Apartments, Center Line

Developer: CSI Support and Development

LIHTC award: $1,500,000

Units: 157 rehab and new apartments

Eastpointe Commons I, Grand Rapids

Developer: Hope Network Affordable Independent Living Nonprofit Housing Corporation and Cove Investments

LIHTC award: $1,459,750

Units: 56 new apartments

Eastpointe Commons II, Grand Rapids

Developer: Hope Network Affordable Independent Living Nonprofit Housing Corporation and Cove Investments

LIHTC award: $1,500,000

Units: 62 new apartments

Garfield Landing, Sault Ste. Marie

Developer: Community Housing Network Inc, CCCF Developer LLC, and The Sault Ste. Marie Tribe of Chippewa Indians

LIHTC award: $1,017,317

Units: 36 new apartments

Hartford Terrace Apartments, Muskegon

Developer: Muskegon Housing Commission, Cove Investments LLC, and Ethos Development Partners LLC

LIHTC award: $1,440,000

Units: 160 rehab apartments

Henry Street Redevelopment, Detroit

Developer: Olympia Development of Michigan and Cinnaire Solutions Corporation

LIHTC award: $1,146,923

Units: 40 rehab and new apartments

Marywood Motherhouse, Grand Rapids

Developer: PK Development Group, Third Coast Development, and the Dominican Sisters of Grand Rapids

LIHTC award: $1,196,939

Units: 52 new apartments

Meyers Senior Apartments, Detroit

Developer: Wallick-Hendy Development Company and Presbyterian Villages of Michigan

LIHTC award: $700,000

Units: 32 new apartments

MLK on 2nd, Detroit

Developer: MHT Housing, Inc and Nassar Companies LLC

LIHTC award: $671,000

Units: 33 new apartments

Nisbett Fairman Residences, Big Rapids

Developer: Hollander Development Corporation and Big Rapids Housing Commission

LIHTC award: $371,362

Units: 47 rehab apartments

Raymond E. Shepherd House, Ferndale

Developer: Full Circle Communities

LIHTC award: $1,499,900

Units: 53 new apartments

Royal Coach Apartments, Hastings

Developer: General Capital and Gun Lake Investments

LIHTC award: $1,478,500

Units: 73 new apartments

Stadium North Lofts, Lansing

Developer: MVAH Holding LLC and Lansing Housing Commission

LIHTC award: $1,446,880

Units: 66 new apartments

Stadium North Senior Lofts, Lansing

Developer: MVAH Holding LLC and Lansing Housing Commission

LIHTC award: $1,418,840

Units: 66 new apartments

The Preserve on Ash I, Detroit

Developer: The Communities Builders, Inc.

LIHTC award: $1,500,000

Units: 69 new apartments

Union Suites on Coit, Grand Rapids

Developer: Dwelling Place of Grand Rapids and Union Suites Development LLC

LIHTC award: $1,104,000

Units: 52 new apartments

Victories Square LIHTC Building 4, Petoskey

Developer: The Shops at Victories Center LLC

LIHTC award: $1,303,526

Units: 50 new apartments

Woodward Ave Apartments, Detroit

Developer: MHT Housing Inc and Mooney Real Estate Holdings

LIHTC award: $911,222

Units: 26 new apartments

MSHDA Mission
The Michigan State Housing Development Authority (MSHDA), established in 1966, serves the people of Michigan by partnering to provide quality housing that is affordable, a cornerstone of diverse, thriving communities.

 

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