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MSHDA Board approves funding Annika Place development in Traverse City, other projects

LANSING — Eight affordable housing developments were approved for funding across the state, including in Detroit, Grand Rapids, Traverse City and Ypsilanti, at the Michigan State Housing Development Authority (MSHDA) Board’s June meeting.

”With funding for eight developments approved this month, we are moving the needle toward our 115,000-housing unit goal,” said Amy Hovey, CEO and Executive Director at MSHDA. “This type of progress is exactly what we need to realize our vision of every Michigander having a quality, safe place to call home.”

Funding for Phase Two of the Annika Place development in Traverse City received funding approval. The $18 million Annika Place II development will add 52 affordable housing units, with five being accessible, to the region, including 19 one- and two-bedroom Permanent Supportive Housing units and 33 one- and two-bedroom units for general occupancy. The project will be supported by $16.9 million in MSHDA funding.


The Board approved loans for rehabilitation activities for two housing developments in Detroit. Calumet Apartments and Townhomes, a 104-unit development with two accessible units, near the Detroit Public Library and Detroit Institute of Arts, will receive over $22 million in MSHDA funding. Martin Gardens, a 46-unit development with three accessible units, near Southwest Detroit, was approved for over $9 million in MSHDA funding.

The Board also approved funding totaling over $20.5 million to rehabilitate 160 units, including eight accessible units, across eight developments in Highland Park.

In Benton Harbor, nearly $18.3 million in MSHDA funding was approved for Corner at Wall Street, a 46-unit development targeted toward those facing homelessness and/or those who have special needs, with five accessible units.

Multiple funding sources totaling more than $21.8 million were approved to rehabilitate Verne Barry Place, a 116-unit development, including nine accessible units, in Grand Rapids. The rehabilitation efforts are set to improve the energy efficiency and aesthetic appeal of the development, without displacing residents or raising rent.


In addition, the Board approved more than $8.7 million in funding for the construction of a new affordable housing development at 206 N. Washington in Ypsilanti. The vacant building sitting on the proposed site will be torn down for the new 22-family unit development and all units will be reserved for low- and extremely low-income families, with five accessible units.

Lastly, MSHDA approved a request to prepay the mortgage loan for Romulus Tower, a 126-unit development in Romulus, which the owners plan to rehabilitate and refinance. Current residents will not be displaced or otherwise impacted by the prepayment, and all units will remain attainable through 2056.

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