Displaying items tagged: LIHTC

After helping save one historic building from the wrecking ball and rehabilitate it into usable office space, the Inner City Christian Federation is looking to do “an encore performance.”

A vacant church in Grand Rapids’ Heritage Hill neighborhood could be transformed into affordable housing by next year.

GRAND RAPIDS — Developers relied on low-income tax credits to add nearly 2,000 units of affordable housing in the city over the last five years. While the credits provide key gap financing to affordable housing developers, officials who administer the funding say the program is consistently “oversubscribed,” leading to delays for new projects.

Two previously announced mixed-use projects from 616 Development LLC appear to be moving forward, albeit with significant changes.