(TAUT DETROIT) — Nearly 200 deeply affordable housing units are being developed in Detroit, officials said Thursday.
City and state officials announced that the city was receiving $38 million in Low Income Housing Tax Credit (LIHTC) funding. Officials say a total of $60.9 million will be invested in the projects in four Detroit neighborhoods, bringing 183 affordable housing units as well as 20 market-priced apartments.
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According to a press release, the 183 units will have rent considered affordable for households earning no more than 60% of the region’s median income (a single person must earn less than $37,630, or a family of two must not not earn more than $42,960). More than half of the housing will be reserved for residents earning 30 to 50% of the AMI.
Officials say one of the plans is to convert the old St. Matthew’s School into residences at St. Matthew’s with 46 units.
The project represents the first time the city’s Housing and Revitalization Department has offered a reserve of housing assistance to ensure that residents of designated units pay no more than 30% of their income. He received $9.8 million in LITHC as well as 25 project-based vouchers from the Michigan State Housing Development Authority (MSHDA).
“I want to thank MSHDA and Governor Whitmer for their continued commitment to creating more affordable housing in Detroit neighborhoods,” said Mayor Mike Duggan. “As our city returns, the most important thing we can do is make sure the Detroiters who stayed can still afford to live in the neighborhood of their choice, and today’s announcement gives a a big boost to this commitment.”
Here is a breakdown of the other three projects:
4401 Rosa Parks
Construction is expected to begin in the first quarter of next year and end in the third quarter of 2024.
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AMI Breakdown (60 units in total):
- 11 units at 30% AMI
- 15 units have 40% AMI
- 14 units at 60% AMI
- 20 market rate units
Greystone Senior Living Center (440 Martin Luther King Jr. Blvd.)
Construction is expected to begin in early 2023 and be completed by the end of the year.
AMI Breakdown (49 units):
- 13 units at 30% AMI
- 3 units at 40% AMI
- 33 units at 60% AMI
Orchard Village Apartments (21525-21652 Orchard Street)
Construction is expected to begin in spring 2023 and end in 2024.
AMI Breakdown (48 units):
- 10 units at 30% AMI
- 10 units at 40% AMI
- 3 units at 50% AMI
- 25 units at 60% AMI
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