The Michigan State Housing Development Authority announced this week that two West Michigan projects secured funding via the Low Income Housing Tax Credits (LIHTC) program.
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.
GRAND RAPIDS — Nine proposed affordable housing projects in West Michigan have been awarded tax credits.
GRAND RAPIDS — A proposed housing development is seeking approvals from the city and state before moving forward in the Belknap Lookout neighborhood.
KALAMAZOO — The federally-mandated deinstitutionalization of developmentally disabled individuals in the 1970s led to the creation of group homes throughout the United States and launched nonprofits such as Residential Opportunities Inc. to manage them.
Tower cranes constructing offices, hotels and apartments dot the skyline in and around downtown Grand Rapids.
GRAND RAPIDS — A West Michigan real estate firm has moved to settle a federal civil lawsuit alleging it engaged in racketeering and other fraudulent activities by charging higher rents at properties once intended for affordable housing.
HOLLAND — Faced with a shortage of housing for people at various income levels, community leaders in Michigan’s fastest-growing county are exploring new ways to develop residential units.
Municipalities and Land Bank Authorities across the state — including several in West Michigan — have received more than $3.6 million from the Michigan State Housing Development Authority (MSHDA) to combat blight.
Michigan’s House and Senate may be in recess for most of the summer, but legislative issues continue to percolate. Advocates continue their work to move forward a range of legislation, including bills that would bring back tax credits for the redevelopment of historic buildings and another that would curb a controversial tax loophole. MiBiz checked in on the status of the two packages.