Lee Plaza | Detroit, Michigan
Historic Preservation
The preservation and adaptive re-use of historic buildings provides opportunities for the development of affordable housing and positive impacts for the surrounding community. The Ethos team has extensive experience utilizing financing sources such as Low-Income Housing Tax Credits, Federal Historic Tax Credits, HOME, and Project Based Vouchers to preserve these historic assets.
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: December 2024
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
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
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
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: April 2025
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: January 2022
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