Southwest Housing Solutions --
last year's Local Initiatives Support Corporation community development corporation of the year -- continues to impress, this time nationally. It has been named one of the top 50 developers of affordable housing in the country by Affordable Housing Finance magazine -- the only developer in Michigan to be so recognized.
AHF ranked SHS at number 40 on the list, citing the fact that the organization closed on 243 units last year despite "market challenges" as a reason for the nod. "The AHF
recognition shows how Southwest Housing has become an important player in the national conversation about the best ways to provide good affordable housing and build community," says SHS communications director Steve Palackdharry.
In other news, the Bagley Housing Association, the CDC responsible for the investment of $53 million since 1996 into the Hubbard Richard and Hubbard Farms neighborhoods of Southwest Detroit, has become a wholly-owned subsidiary of SHS. As a subsidiary, BHA will continue its role as a developer of single-family housing. Palackdharry says the partnership was designed to ensure that government agencies, funders and the business community would continue to have strong, reliable partners in the revitalization of Southwest Detroit.
Read more about SHS in the Model D feature,
Solutions for Southwest Detroit: Nonprofit Developer Gets It Right.
Source: Steve Palackdharry, SHS
Writer: Kelli B. Kavanaugh
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