Chris Holman welcomes Doug Fleming, executive director of the Lansing Housing Commission, Lansing, MI. Watch Doug and Chris discuss the tax credits coming to the Lansing Housing Commission in the YouTube video shared below:
Welcome Doug, please let the Michigan business community know about the Lansing Housing Commission, your scope, and purpose?
We understand you have big news regarding a tax credit to expand affordable housing?
The Riverview 220 Project,... please go deeper into that, especially about the businesses that it could attract?
So, the Governor and MSHDA announced $13M across the state, what are some of the other communities impacted besides Lansing?
This seems like one of several positive stories concerning living space in the capital, what does your commission see for the future?
Here's some more information about this topic:
Lansing Housing Commission Awarded $1.5M Tax Credit to Expand Affordable Housing
Paves way for 1st downtown mixed-use family units
LANSING, MI – More affordable housing units are planned for downtown thanks to tax credits that support a $22.5 million project spearheaded by the Lansing Housing Commission (LHC).
The tax credits are earmarked for LHC’s $22.5 million Riverview 220 project. The property is situated on the south side of East Kalamazoo Street between South Grand Avenue and Cherry Street.
“Everyone deserves safe, clean, and affordable housing,” said Doug Fleming, LHC executive director. “We have invested to expand and improve affordable housing options throughout the region. These tax credits will continue our mission as the leader in affordable housing throughout the capital region.”
The project, downtown Lansing’s first mixed-used housing building with affordable units, market-rate units, and commercial/retail space, will feature:
- 56 affordable units
- 7 market-rate units
- 2- and 3-bedroom units to meet the needs of larger families
- Retail and commercial space
The $1.5 million tax credit is part of $13 million in federal Low-Income Housing Tax Credits recently announced by Governor Whitmer and the Michigan State Housing Development Authority (MSHDA). The funds will support the development or rehabilitation of 500 future homes across 10 affordable housing projects throughout Michigan.
“Located in the heart of downtown Lansing, Riverview 220 will provide easy access to public transportation, local resources, and the best of city living. Most importantly, it expands affordable housing options and makes Lansing a more welcoming city,” said Fleming.
Construction on Riverview 220 is expected to begin in the second quarter of 2024 after completion of MSHDA closing requirements with leasing in early 2026.
For more information, visit www.lanshc.org.
Additionally here is the release from Governor Whitmer about the tax credits
Gov. Whitmer Announces Support to Build & Upgrade Another 500 Affordable Housing Units Across Michigan
LANSING, Mich. – Governor Gretchen Whitmer and the Michigan State Housing Development Authority (MSHDA) announced more than $13 million in federal Low-Income Housing Tax Credits (LIHTC) have been awarded to support the development or rehabilitation of 500 future homes across 10 affordable housing projects from Marquette to Detroit. The total investment from these projects is over $173 million and will create over 30 permanent jobs and over 800 temporary jobs.
“In Michigan, we are building housing and revitalizing communities to make our cities and towns more affordable places to live, work, and invest,” said Governor Whitmer. “Housing is a national challenge, and in Michigan, we are taking bold actions to meet our goal of building or rehabilitating 75,000 housing units over five years. Having a safe, affordable place to call home is the foundation for upward economic mobility for families and the communities they choose to call home. Let’s keep building housing, lowering costs, and growing our economy.”
Developers who receive LIHTC awards can claim credits against their tax liability annually for up to 10 years – an important initiative that helps incentivize investments in affordable housing in local communities across the state. This current round of funding will enable the creation or preservation of 543 total rental units.
“These projects represent our commitment to ensuring residents across Michigan have access to housing that they can afford in the community they choose. Our projects not only provided much-needed housing for residents, they also support and strengthen local economies and create opportunities for growth,” said Tony Lentych, MSHDA’s chief housing investment officer.
A full list of development projects receiving LIHTC awards includes:
|
Project |
City |
Developer |
LIHTC Award |
LIHTC Units |
|
121 Catherine |
Ann Arbor |
Avalon Nonprofit Housing Corp. & Ann Arbor Housing Development Corp. |
$1,500,000 |
63 |
|
900 Tuscola Street Midtown West |
Detroit |
Procida Development Group, LLC |
$1,300,000 |
33 |
|
Black Rock Crossing |
Marquette |
Woda Cooper Development, Inc. & Keweenaw Bay Indian Community |
$1,453,400 |
50 |
|
Cabot Apartments |
Detroit |
Trice Development Company, LLC & Cove Investments |
$1,295,861 |
84 |
|
John Grace Arms |
Southfield |
Southwest Housing Solutions Corp. & Southfield Nonprofit Neighborhood Corp. |
$1,304,500 |
60 |
|
Leonard Apartments |
Grand Rapids |
Genesis Nonprofit Housing Corp., Dwelling Place of Grand Rapids & Little River Development, LLC |
$1,405,000 |
55 |
|
North Corktown Apartments |
Detroit |
MHT Housing, Inc. and Renovate Detroit, LLC |
$1,189,900 |
49 |
|
Park Meadows Village – Phase I |
Detroit |
RAD Conversion Specialists, LLC & Resurrection Community Development Corp. |
$1,500,000 |
70 |
|
Riverview 220 |
Lansing |
Lansing Housing Commission & CCA Developer Two, LLC |
$1,497,000 |
56 |
|
Washington Park |
Owosso |
Venture, Inc.; Capital Area Community Services; and Bailey Park Homes, L3C |
$656,608 |
16 |
###
The Lansing Housing Commission (LHC) is a public housing agency with a mission to compassionately deliver healthy, affordable, safe, quality housing options without discrimination with exceptional customer service while meeting high-performance standards. LHC provides rental housing units and rental assistance through 830 units throughout the city and more than 1,600 housing choice vouchers in Lansing and surrounding communities.
