Carriage Place | Pontiac, Michigan
Public Housing / HUD RAD Conversion
The Ethos team has extensive experience working in partnership with housing commissions to develop new affordable housing and recapitalize existing public housing through the HUD Rental Assistance Demonstration (RAD) program.
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
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
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
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
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