Michigan officials announced plans to launch the Employer-Assisted Housing Fund, a matching fund to boost businesses investing and partnering to address the need for workforce housing in the state.
The Michigan State Housing Development Authority (MSHDA) will administer the new $10 million fund, which will be supported by this year’s state budget appropriations. Additional funding may be made possible with further legislative support.
“The Employer-Assisted Housing Fund will bring businesses, local government, developers, and MSHDA together to build housing for employees,” said Gov. Gretchen Whitmer in a statement . “If we want people to move to our communities for work, they need affordable places to call home nearby. I’m looking forward to seeing new partnerships built so we can work together to build a heck of a lot more housing, and grow local business and our population.”
From 2014 to 2023, Michigan built just one new home for every 14 new jobs—leaving thousands of workers struggling to find housing, according to the state.
MSHDA will begin accepting applications Feb. 24. Prior to that date, guidance will be provided on the Employer-Assisted Housing page on MSHDA’s website.
Applications will be reviewed on a first-come, first-served basis. Eligible uses include construction projects, as well as innovative programmatic approaches to housing opportunity such as down-payment assistance.
Each application must include an employer contribution, such as donated land, a cash gift, equity investment, a below-market interest loan, or some combination approved by MSHDA. All housing units funded by the Employer-Assisted Housing Fund must be attainable to income-eligible households.
“We appreciate the Legislature and governor for funding this new pilot program, which will help us strengthen communities around Michigan’s growing businesses,” said Amy Hovey, MSHDA CEO and executive director. “Guided by the Statewide Housing Plan, we’re making strategic investments to align housing development with our state’s needs, job creation, and population growth. The new Employer-Assisted Housing Fund will allow us to build on that success and create even more opportunities for Michiganders.”
