Coolidge Place | Oak Park, Michigan
New Construction
The demand for new housing and, in particular, affordable housing has reached unprecedented levels. 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 help meet the critical need for new affordable housing.
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
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
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: December 2024
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: March 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
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
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: December 2024
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: May 2025