LANSING, Mich. – The Michigan State Housing Development Authority (MSHDA) Board approved funding for 148 housing units in developments in Detroit during its September meeting.
“Every month we get closer to closing the gap on the 119,000 housing unit shortage we’re facing in Michigan,” said Amy Hovey, MSHDA CEO & Executive Director. “We remain committed to housing solutions that will increase housing stock and access to affordable housing options for everyone.”
Trumbull Apartments was approved for $19.6 million in MSHDA funding for the new construction of 88 housing units, 72 of which will be designated affordable. Nine units will be accessible, and 32 will receive rental assistance. This project will be phase one of the redevelopment of Clement Kern Gardens in the Corktown neighborhood.
The Preserve on Ash III was approved for a $22 million investment. Phase three of the new construction development will consist of 60 one-, two-, and three-bedroom apartments and townhomes, including six accessible units and 21 units designated for Project-Based Vouchers.
The MSHDA board approved the sale of 2025 Series C and D bonds to fund down payment assistance and mortgages at reduced interest rates to make homeownership more attainable for Michigan residents.
With the board’s action this month, MI Neighborhood, which combines state and federal funding to respond to regional action plans in alignment with the Statewide Housing Plan, has reserved $61.8 million in grants statewide to support 1,551 housing units.
