MSHDA board OKs development in Grand Traverse County

LANSING – The Michigan State Housing Development Authority (MSHDA) board has approved loans for multiple affordable housing developments across the state in its April meeting.

The approved projects include new construction developments in Ann Arbor and Garfield Township in Grand Traverse County, and rehabilitation projects in Detroit and Adrian.

”Secure and attainable housing is a core pillar of what helps Michiganders thrive,” said Chief Executive Officer and Executive Director of MSHDA Amy Hovey. “By financially backing and eagerly supporting rehabilitation and development, we’re propelling communities across the state to meet the housing needs of residents.”

The Flats at Carriage Commons, a new construction project in Garfield Township, was approved for a loan totaling $12 million, financed through Limited Obligation Multifamily Housing Revenue Bonds.

The development will have 48 family units with 16 accessible units. Twenty one units will be reserved for tenants at or below 70% of AMI, 19 units will be reserved for tenants at or below 60% of AMI and eight units will be reserved for tenants at or below 30% AMI.