Future Uncertain For Water Street Flats Project
The future of the Water Street Flats affordable housing project is very much in doubt. It has received a little over half of the state funding needed to make it happen. On Tuesday, developer Herman & Kittle will ask city council for more time to secure the additional funding.
"We've been talking with the city with the intention of going back and re-applying to try to close that gap in the next round (of funding), which will take place in October," Herman & Kittle Properties Development Director Michael Rodriguez says. "We'll submit the application in October."
Herman & Kittle is asking the city to give it until the end of March next year to find out if they'll receive the additional funding. Without the money, the Water Street Flats project is dead.
Ypsilanti City Manager Ralph Lange has said that selling as much land as possible between now and 2016 would help advance his plan to re-finance the city's Water Street debt and help stabilize the city's general fund.