Rental assistance and utility assistance are two areas Maricopa County in Arizona is placing CARES Act funding to help residents. | Pixabay
Rental assistance and utility assistance are two areas Maricopa County in Arizona is placing CARES Act funding to help residents. | Pixabay
Developments that will provide roughly 1,000 units of affordable housing have been approved by the Michigan State Housing Development Authority (MSHDA) Board.
According to a news bulletin from the state government, MSHDA decided at its November meeting to provide bonds and loans for the development of four new affordable multifamily housing projects, along with preserving an existing apartment complex site.
“Four of the development projects will create over 600 new affordable housing units in Michigan at a time when availability of housing for individuals at or below area median income levels is limited,” Chad Benson, MSHDA rental development director, said in the release. “These projects represent significant investments and ensure residents in these areas have access to quality housing they can afford.”
The MSHDA Board approved the issuance of bonds and loans to finance the construction of four new affordable multifamily housing projects and moved to preserve apartments at another property during its November meeting.
The $63 million apartments in Pittsfield Township will consist of 295 units with a combination of one-, two-, and three-bedroom apartments ranging from $700 to $1,290.
In Ypsilanti, a two-part project plans for 152 senior and 156 multifamily units to the region. MSHDA approved $24.3 million for the development of the 845 W. Clark Road Senior Apartments and the 845 W. Clark Road Family Apartments comes with a $25.2 million construction price tag.
The Anchor at Mariners Inn in Detroit will be a mixed-use project with 44 units in a single four-story building that will consist of more than 4,000 square feet of commercial space. The project is located in the city’s Cass Park Historic District. A construction loan of $3.9 million and a permanent mortgage loan of almost $2.3 million was approved by the MSHDA Board.
The estimated $13.8 million MACH 1 development in Flint will be used to renovate four existing buildings with 388 affordable multifamily units for families. The scope of work consists of roofing and vinyl siding, window replacements, installing programmable thermostats and a hardwired smoke/carbon monoxide detection system and cleaning ductwork.
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