Three cities to receive more affordable housing
The residential real estate picture got a bit brighter last week when Kent County commissioners allowed the county’s Office of Community Development to enter into agreements with three nonprofit housing developers, an action that will result in more affordable housing for three cities.
Community Development will divide $1.48 million in funds the office received from the U.S. Department of Housing and Urban Development among the developers. The money will be used to buy, rehab and construct at least four rental units in Grandville and a minimum of 10 single-family homes in Wyoming and Lowell.
The Genesis Housing Corp. will receive nearly $370,000 to create the apartments. LINC will receive $717,000 to develop at least six homes in Wyoming and the Inner-City Christian Foundation will use its $400,000 to develop a minimum of four homes in Lowell.
Commissioners also agreed last week to raise the monthly parking charge at the ramp adjacent to the county-owned building at 82 Ionia Ave. NW by $3 to $126, an increase of 2.4 percent. The new rate goes into effect Sept. 1. The county leases 52 of the ramp’s 122 spaces to downtowners and the new rate is expected to give the county $76,000 in annual revenue from monthly parking at the ramp.