The City of Detroit announced a big commitment in affordable housing across the city. According to a press release, the city was selected by the Michigan State Housing Development Authority (MSHDA) to receive a limited number of 9 percent low-income housing tax credits that will create or preserve 385 units of affordable housing in Core City, Midtown, Brush Park, and the Oakman Boulevard Community.
The four developments total a combined investment of $110 million, with $4.4 million in tax credits from MSHDA.
The announcement assures that 271 units of affordable housing that could have lost that status will be renovated and will keep that status for another 30 years. 114 new affordable units, many of which will be for families earning less than 30 percent of the area’s Average Median Income (AMI), will be built.
The developments are:
- Roberts III in Core City: This 197-unit building will be preserved as affordable housing for the next 30 years for senior citizens. Incomes range from 60 percent of AMI to less than 30 percent AMI. The project has support from the Detroit Housing Commission in the form of project-based vouchers to support lower-income units. The total project cost is $16.4M.
- Ryan Court II in the Oakman Boulevard Community: 74 units will be preserved as affordable housing. Incomes range from 60 percent of AMI to less than 30 percent AMI. The development near Oakman and Livernois is a mix of new construction and rehabilitation of older buildings. The total project cost is $9M for this phase.
- Peterboro Permanent Supportive Housing in Midtown/Cass Corridor: Proposed renovations will result in 56 units (42 two-bedroom and 14 three-bedroom) targeted to homeless families who meet MSHDA’s criteria for Permanent Supportive Housing. In order to assist the residents who will live here, “COTS will be requesting 38 project based vouchers from MSHDA and has received conditional awards for 9 project based vouchers from the Detroit Housing Commission and project rental assistance for 9 units through the HUD Section 811 program.” The total cost for this is $14.5M.
- Brush Park South: This new construction will include 58 (20 percent) of the 287 units reserved for residents earning 60 percent AMI or less. This project will be built on 19 vacant city-owned parcels and is supported with $2.3 million in HOME funds. The project also has support from the Detroit Housing Commission in the form of project-based vouchers to support lower-income units. The total cost for this project is estimated at $70M.
Another 114 new affordable units, nearly half of which will be for families earning less than 30% of the area’s AMI will be built. pic.twitter.com/A6PAuQUWax— City of Detroit (@CityofDetroit) July 12, 2017