Governor Gretchen Whitmer, in collaboration with the Michigan State Housing Development Authority (MSHDA), has unveiled a substantial boost to affordable housing initiatives.
Over $13 million in federal Low-Income Housing Tax Credits (LIHTC) have been designated to propel the development or rejuvenation of 500 prospective homes across ten affordable housing projects, spanning from Marquette to Detroit. The cumulative investment is over $173 million and is projected to yield over 30 permanent job opportunities alongside more than 800 temporary positions.
Governor Whitmer underscored the pivotal role of accessible housing in Michigan’s comprehensive strategy to enhance communities and foster economic growth. By embracing this multi-faceted approach, the state aims to meet its ambitious objective of constructing or revamping 75,000 housing units within a five-year timeframe.
This latest funding cycle will facilitate the establishment or preservation of 543 rental units, bolstering Michigan’s commitment to a more inclusive and prosperous future.
Reporting for WGRT – Choze Powell
