DETROIT (WXYZ) — The City of Detroit has lined up $12.1 million in tax credits from the Michigan State Housing Development Authority to ensure the completion of 486 affordable housing units.
The city says the number of affordable units at six major housing developments in the city were at risk of being put on hold or scaled back because of rising construction costs.
Both the city and the developers had requested additional Low Income Housing Tax Credits from the MSDHA, which had previously provided similar tax credits for the projects. According to the city, the projects that have received the additional credits to complete the affordable units are 7580 E. Jefferson, Brush Watson, Left Field, Ruth Ellis Clairmount Center, Anchor at Mariners Inn, and La Joya Gardens.
“One of the most urgent needs in our city right now is for more units of affordable housing to make sure every Detroiter has a quality place to live at a price they can afford,” said Mayor Mike Duggan in a news release. “Just as we all see rising costs at the grocery store and gas pump, construction companies that build affordable housing are being faced with higher construction costs. We are deeply grateful to our partners at MSHDA and Governor Whitmer’s administration for recognizing the importance of these projects and supporting them so that they can move forward.”
