MSHDA Board Approves Funding for Three Detroit Housing Developments

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• Katie Bach, [email protected]
• Anna Vicari, [email protected]

MSHDA Board Approves Funding for Three Detroit Housing Developments

Lansing, Mich. -At its May meeting, the Michigan State Housing Development Authority (MSHDA) Board approved funding for three affordable housing developments in Detroit - one being the rehabilitation of the historic Higginbotham School, which is listed on the National Register of Historic Places.

"The developments approved by the Board this month will have a large impact on some of Detroit's most vulnerable residents," said Amy Hovey, CEO and Executive Director at MSHDA. "Projects like these reflect our mission of partnering to provide quality affordable housing."

Higginbotham School, a $36 million development in a historic Detroit neighborhood, was approved by the Board for funding totaling $25 million. Detroit Public Schools built the school in 1926-1927. After the construction of two new three-story buildings and rehabilitation of the school, the development will have 100 units - 10 units will be designated as Accessible Type A Units (for those requiring a wheelchair), and 37 designated as Visitable Units. All units will be reserved for tenants between 30% to 80% Area Median Income (AMI).

The Board also approved $14.7 million in funds to rehabilitate and preserve Peterboro Place Apartments in Detroit. Built in 1921, this project has been providing quality affordable housing for homeless residents and other vulnerable individuals since 1999. Upgrades will provide 70 permanent supportive housing units, including seven accessible units. Residents will benefit from rental assistance categorized for homelessness and additional support services.

A third Detroit development was approved for $12.8 million in loans. The proposed $22 million project will develop Minock Park Place, a four-story, mixed-use complex for seniors on Grand River Avenue. Thirty-six one-bedroom apartments and six two-bedroom apartments make up the building's 42 units - seven of which will be accessible. Twenty-four units will be available to tenants earning 60% or less of AMI, while the other 18 units will be for tenants earning 50% or less of the AMI.

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About MSHDA
TheMichigan State Housing Development Authority (MSHDA), established in 1966, provides financial and technical assistance through public and private partnerships to create and preserve safe and decent affordable housing, engage in community economic development activities, develop vibrant cities, towns and villages, and address homeless issues.

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