Kamper and Stevens Buildings | Detroit, Michigan
Affordable Housing Preservation
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
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
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
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