Projects

700 East Court Street, Flint, MI

Type: Senior Preservation

Number of Units: 119

Total Development Cost: $22,200,000

Financing: MSHDA 9% LIHTC, Philanthropy, Conventional Financing

Rental Subsidy: Section 8 Project Based Vouchers for 23 units from the Flint Housing Commission

Completion: In Process

800 East Court Street, Flint, MI

Type: Senior Preservation

Number of Units: 149

Total Development Cost: $23,200,000

Financing: MSHDA 4% LIHTC, Tax Exempt Bonds, HUD 202 Capital Grant, City of Flint HOME, HUD 221(d)(4) Financing

Rental Subsidy: HUD PRAC for all 149 units

Completion: In Process

American Indian Health and Family Services, Detroit, MI

Type: New Markets Tax Credits

Total Development Cost: $21,600,000

Financing: New Markets Tax Credits, Philanthropy, Government, Loan

Completion: March 2026

Auburn Place, Pontiac, MI

Type: Permanent Supportive Housing

Number of Units: 54

Total Development Cost: $25,000,000

Financing: MSHDA 4% LIHTC, MSHDA HCDF, Tax-Exempt Bonds

Rental Subsidy: MSHDA Project Based Vouchers for 30 units and Pontiac Commission Project Based Vouchers for 24 units

Completion: In Process

Beacon Place, Pontiac, MI

Type: Permanent Supportive Housing

Number of Units: 40

Total Development Cost: $13,000,000

Financing: MSHDA 4% LIHTC, Tax-Exempt Bonds

Rental Subsidy: MSHDA Project Based Vouchers for 16 units and Pontiac Housing Commission Project Based Vouchers for 8 units

Completion: In Process

Buersmeyer Manor, Detroit, MI

Type: Permanent Supportive Housing

Number of Units: 35

Total Development Cost: $11,200,000

Financing: MSHDA 4% LIHTC, Detroit HOME, Tax-Exempt Bonds

Rental Subsidy: MSHDA Project Based Vouchers for 23 units

Completion: In Process

Carriage Place, Pontiac, MI

Type: RAD Conversion of Family Public Housing

Number of Units: 234

Total Development Cost: $40,000,000

Financing: MSHDA 4% LIHTC with Tax-Exempt Bonds and MSHDA HOME, Oakland County HOME

Rental Subsidy: Project Based Voucher Contract for all 234 units from the Pontiac Housing Commission

Completion: December 2022

Clay Apartments, Detroit, MI

Type: Permanent Supportive Housing

Number of Units: 42

Total Development Cost: $12,000,000

Financing: MSHDA 9% LIHTC, Detroit HOME, Federal Home Loan Bank AHP, Conventional Financing

Rental Subsidy: MSHDA Project Based Voucher Contract for all 42 units

Completion: October 2020

Coolidge Place, Oak Park, MI

Type: Permanent Supportive Housing/Family Housing

Number of Units: 64

Total Development Cost: $15,000,000

Financing: MSHDA 9% LIHTC, Conventional Financing

Rental Subsidy: MSHDA Project Based Voucher Contract and Section 811 Rental Assistance for 16 Permanent Supportive Housing units

Completion: January 2021

Detroit Horse Power, Detroit, MI

Type: New Markets Tax Credits

Total Development Cost: $12,900,000

Financing: New Markets Tax Credits, Philanthropy, Government, Loan

Completion: December 2025

GRPC II – West Outer Drive, Detroit, MI

Type: Family Housing

Number of Units: 35

Total Development Cost: $9,700,000

Financing: MSHDA 4% LIHTC, MSHDA Bond Financing, Detroit HOME

Completion: In Process

Hartford Terrace, Muskegon, MI

Type: RAD Conversion of Senior/Disabled Public Housing

Number of Units: 165

Total Development Cost: $19,300,000

Financing: MSHDA 9% LIHTC, Conventional Financing, Federal Home Loan Bank of Indianapolis AHP

Rental Subsidy: Section 8 Project Based Vouchers for all 116 units from the Muskegon Housing Commission

Completion: December 2023

Kamper and Stevens Buildings, Detroit, MI

Type: Senior Preservation

Number of Units: 165

Total Development Cost: $27,000,000

Financing: MSHDA 4% LIHTC, Tax-Exempt Bonds, Historic Tax Credits, MSHDA HOME, Detroit HOME

Rental Subsidy: HUD HAP Contract for all 165 units

Completion: January 2019

La Joya Gardens, Detroit, MI

Type: Affordable Multifamily Housing

Number of Units: 53

Total Development Cost: $18,250,000

Financing: MSHDA 9% LIHTC, MSHDA 4% LIHTC, MEDC CRP, Detroit HOME, Conventional Financing

Rental Subsidy: Detroit Housing Commission Project Based Voucher Contract for 8 units

Completion: In Process

Lake Huron Woods Apartments/Cottages, Fort Gratiot, MI

Type: Senior Housing

Number of Units: 45 Independent Living Apartments / 45 Cottages

Total Development Cost: $24,000,000

Financing: MSHDA 4% LIHTC with Tax-Exempt Bonds, MSHDA HOME and MSHDA 9% LIHTC

Rental Subsidy: Section 8 Project Based Vouchers for 26 units from the Port Huron Housing Commission

Completion: In Process

Lee Plaza, Detroit, MI

Type: Senior Housing

Number of Units: 117

Total Development Cost: $70,000,000

Financing: MSHDA 9% LIHTC, MSHDA 4% LIHTC, Historic Tax Credits, Tax Exempt Bonds, Detroit HOME, Detroit ARPA, Detroit CDBG, NSP Funds, HUD 221(d)(4) Financing

Rental Subsidy: HUD Project Based Vouchers for all 115 units via HUD Section 8bb Program

Completion: In Process

Lighthouse – Campus, Pontiac, MI

Type: New Markets Tax Credits

Total Development Cost: $30,000,000

Financing: New Markets Tax Credits, Philanthropy, Government, Loan

Completion: December 2025

Minock Place, Detroit, MI

Type: Senior Housing

Number of Units: 42

Total Development Cost: $22,300,000

Financing: MSHDA 4% LIHTC, MSHDA Bond Financing, Detroit ARPA

Completion: In Process

NSO Bell Building, Detroit, MI

Type: Permanent Supportive Housing

Number of Units: 155

Total Development Cost: $48,000,000

Financing: MSHDA 9% LIHTC, Detroit HOME, Wayne County HOME, CDBG, Historic Tax Credits, Brownfield Tax Credits, New Markets Tax Credits, Foundation and Corporate Philanthropy

Rental Subsidy: MSHDA Project Based Voucher Contract for all 155 units

Completion: November 2012

Parkview Apartments, Traverse City, MI

Type: Senior Housing

Number of Units: 46

Total Development Cost: $14,000,000

Financing: MSHDA 9% LIHTC, MSHDA 4% LIHTC, Tax-Exempt Bonds, MSHDA HOME, Federal Home Loan Bank of Indianapolis AHP

Rental Subsidy: Section 8 Project Based Vouchers for 8 units from the Traverse City Housing Commission

Completion: In Process

Residences at St. Matthew, Detroit, MI

Type: Permanent Supportive Housing

Number of Units: 46

Total Development Cost: $17,300,000

Financing: MSHDA 9% LIHTC, Historic Tax Credits, Detroit HOME, Conventional Financing, Federal Home Loan Bank of Indianapolis AHP

Rental Subsidy: MSHDA Project Based Vouchers for 25 units and City of Detroit Rental Subsidy Reserve for 7 units

Completion: In Process

Riverview Terrace Apartments, Traverse City, MI

Type: RAD Conversion of Senior Public Housing

Number of Units: 115

Total Development Cost: $20,300,000

Financing: MSHDA 4% LIHTC with Tax-Exempt Bonds, MSHDA HOME, Federal Home Loan Bank of Indianapolis AHP

Rental Subsidy: Section 8 Project Based Vouchers for all 115 units from the Traverse City Housing Commission

Completion: December 2023

The Anchor at Mariners Inn, Detroit, MI

Type: Permanent Supportive Housing

Number of Units: 44

Total Development Cost: $18,500,000

Financing: MSHDA 9% LIHTC, MSHDA 4% LIHTC, Tax-Exempt Bonds, Detroit HOME, Conventional Financing

Rental Subsidy: MSHDA Project Based Voucher Contract for all 44 units

Completion: In Process

The Peterboro Arms, Detroit, MI

Type: Permanent Supportive Housing for Families

Number of Units: 56

Total Development Cost: $19,000,000

Financing: MSHDA 9% LIHTC, Historic Tax Credits, Detroit HOME, Conventional Financing

Rental Subsidy: MSHDA Project Based Voucher Contract, Detroit Housing Commission Project Based Voucher Contract and Section 811 Rental Assistance for all 56 units

Completion: April 2021

The Wills Manor, Marysville, MI

Type: Senior Housing

Number of Units: 48

Total Development Cost: $14,500,000

Financing: MSHDA 9% LIHTC, Conventional Financing

Rental Subsidy: Section 8 Project Based Vouchers for 23 units from the Marysville Housing Commission

Completion: In Process

Transfiguration Place, Detroit, MI

Type: Family Housing

Number of Units: 19

Total Development Cost: $7,000,000

Financing: MSHDA 4% LIHTC, Tax-Exempt Bonds, Historic Tax Credits, Detroit HOME

Rental Subsidy: Detroit Housing Commission Project Based Voucher Contract for all 19 units

Completion: In Process

Vista de Socorro, Socorro, New Mexico

Type: Permanent Supportive Housing

Number of Units: 32

Total Development Cost: $8,000,000

Financing: New Mexico MFA 9% LIHTC, New Mexico MFA HOME and Housing Trust Fund, National Housing Trust Fund, Conventional Financing

Rental Subsidy: Section 8 Project Based Vouchers for all 32 units from the El Camino Real Housing Authority

Completion: In Process

VOA St. Mary, Detroit, MI

Type: Permanent Supportive Housing

Number of Units: 61

Total Development Cost: $28,500,000

Financing: MSHDA 9% LIHTC, MSHDA 4% LIHTC, Historic Tax Credits, Detroit HOME, Tax-Exempt Bonds

Rental Subsidy: MSHDA Project Based Vouchers for all 61 units

Completion: In Process