Affordable housing projects receive $2.3M from state
Three West Michigan affordable housing projects have been awarded at total of $2.3 million from the state.
The Michigan State Housing Development Authority announced this week more $11.6 million in Low-Income Housing Tax Credits, or LIHTC, to 13 projects across the state.
"With this latest round of funding, 862 units of rental housing are planned to be built or rehabilitated using LIHTC," MSHDA Executive Director Earl Poleski said. “We estimate that it will leverage more than $104 million in private investment for Michigan.”
Projects were spread across the state, with a majority landing in the Detroit area.
Two of the projects are in Grand Rapids and represent $19.2 million private funding for 45 units at Harrison Park Apartments and 36 units at Garfield Park Lofts.
Harrison Park Apartments is a development by Dwelling Place of Grand Rapids Nonprofit Housing Corporation and was awarded $1.2 million. Twelve of the units at Harrison Park Apartments will have 12 “Permanent Supportive Housing” units.
Garfield Park Lofts was awarded $934,988 and is a partnership between Dwelling Place, LINC Community Revitalization Inc. and Orion Real Estate Solutions.
A PK Development Group project in Hartford, near St. Joseph, was awarded $262,314.