Detroiters in search of affordable housing have nearly 300 more options to look forward to, this thanks to five projects being recently announced as recipients of the federal Low-Income Housing Tax Credit (LIHTC) program.
Five residential projects, three new developments and two redevelopments, will either create or preserve a total of 282 units of affordable housing throughout different areas of the city.
Affordable housing is reserved for households earning between 30 and 80% of the Area Median Income, parameters for the tax credit program set by HUD.
MSHDA administers the LIHTC program in Michigan.
“We’ve made a serious commitment to our longtime residents that they will not be pushed out of their homes as our city redevelops, and that there will be housing options for people of all income levels, even in some of the city’s hottest neighborhoods,” says Mayor Mike Duggan. The city’s Housing & Revitalization Department helped subsidize the new developments and assisted in the LIHTC permitting process.
“I am deeply grateful to our partners and HUD and MSHDA for their confidence in our housing strategy and their support for these important projects.”
One LIHTC award goes to the Brush Watson development in Brush Park. Although the development was already planned, the tax credit has enabled developers to add a second phase to the project. The mixed-use development will now feature three buildings and span the entire block.
The second phase of the project ensures 49 more affordable units at Brush Watson, meaning that development’s now 310 units will contain 163 affordable housing units. And 90 of those units will be reserved for those that earn approximately $16,000 to $28,000 per year, promising rent of around $400 per month.
Another new development, the Jim Holley Residences at 9001 Woodward Ave., will provide all 60 of its units at affordable housing rates.
The old Tiger Stadium site will see another residential development built, this time in left field. The first phase will include 60 units, 48 of which will be reserved for those earning 30 to 80 percent of the AMI.
The historic New Center apartment building Midtown Square will be redeveloped, with all 73 of its units remaining affordable.
And the senior-housing complex Friendship Meadows II in Forest Park will also be redeveloped, with all 52 of its affordable units remaining as such.
“MSHDA is pleased to partner with the City of Detroit and the various development companies on these much-needed affordable housing projects,” says Chad Benson, MSHDA acting director of development.
“The five unique developments will further our goal of producing and preserving good quality affordable apartments for individuals, families, and seniors with low and moderate incomes, while helping support the city’s social and economic development goals.”
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