The Michigan State Housing Development Authority (MSHDA) has awarded $11.8 million in low-income housing tax credits (LIHTCs) in its second competitive round for 2016 for the creation and rehabilitation of an estimated 819 units in 17 affordable housing developments.
“The LIHTC program is a public-private partnership that allows developers to renovate and construct quality, affordable housing,” said MSHDA executive director Kevin Elsenheimer in a statement. “The program is essential to meeting the housing needs of individuals, families, seniors, and special-needs populations with low or fixed incomes.”
MSHDA annually awards about $22 million in LIHTCs in two funding rounds. The deadline for the first competitive round for 2017 LIHTCs will be at 5 p.m. Oct. 3. The authority will allocate approximately 50% of its 2017 credit ceiling in this round.
The developments that were reserved LIHTCs in July will serve low-income households in 12 Michigan counties.
One development awarded LIHTCs in this round will create 36 new workforce housing units for downtown employees and their families in Grand Rapids. PK Development Group will partner with Third Coast Development to demolish two existing structures and create one new building with adjacent parking. Leo and Alpine will include 28 affordable and eight market-rate units.
The historic Norman Towers apartment building in Monroe will be preserved and rehabilitated by Building Blocks Nonprofit Housing Corp. The former boys boarding and military school had been converted to market-rate seniors housing after it closed in the early 1980s. With the help of LIHTCs, the building will undergo extensive repairs to preserve its historic features. Units also will get refurbished bathrooms and kitchens, as well as new hot water heaters and flooring.
The other developments receiving LIHTCs include:
- 124 Alfred in Detroit: 124 Alfred Developer will create 54 affordable housing units with the help of LIHTCs;
- 200 Loomis and 225 Ludington in Ludington: LC Consultants will construct 60 affordable housing units in two buildings to serve families, seniors, and the chronically homeless;
- Berkshire Muskegon in Muskegon: General Capital Development will create 79 affordable housing units for seniors;
- Capitol Park Center in Lansing: LC Consultants will construct a 48-unit building downtown that will provide affordable housing for families and households with special needs;
- Crosswinds Manor in Belding: TJ Acquisitions will rehab 24 affordable housing units for seniors;
- Gratiot Central Commons in Detroit: MHT Housing will create 45 mixed-income units;
- Greenwood Apartments in Owosso: TJ Acquisitions will rehab the 48-unit senior housing community;
- Metea Court Apartments in Buchanan: Hollander Development Corp. will rehab a 100-unit senior housing community. The development will include 80 low-income and 20 market-rate units spread out over 19 residential buildings;
- Prentis II Apartments in Oak Park: Jewish Senior Life of Metro Detroit will rehab 99 units;
- Unity Park Rentals IV in Pontiac: Community Housing Network will build 12 low-income units;
- Wexford Manor in Onsted: TJ Acquisitions will rehab 24 seniors apartment units;
- Woda Decatur Downs in Decatur and Woda Lawrence Downs in Lawrence: The Woda Group received LIHTCs to rehab two developments in Van Buren County. Each project includes 48 units, and the LIHTCs will be split equally between the two developments; and
- Woodbridge Estates Phase IX in Detroit: Scripps Park Associates will create 77 units of mixed-income housing in the ninth phase of this residential community.