Parkview Apartments | Traverse City, Michigan
Senior Housing
As the population of the country ages, there is increasing demand for senior affordable housing. 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 this housing.
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: August 2024
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: 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
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
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
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 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