Federal funding to build 46 affordable housing units in the Depot Town area of Ypsilanti has been approved. This seeks to create more homeownership in the city.
The Washtenaw County Board of Commissioners voted to approve $3.6 million to help create an affordable housing development on North Park Street. The funding came from the American Rescue Plan Act.
Half of the 46 cottages, townhouses, and duplexes will be set aside for people who make up to 80% of the average median income. The other half will be sold at market rate, capped at $205,000.
Commissioner Justin Hodge represents the Fifth District.
“This is a really unique project in that we’re really encouraging people to be able to build wealth and purchase a home.”
The entire project is estimated to cost about $13 million with Washtenaw County, sharing the costs with the City of Ypsilanti, the Ann Arbor Community Foundation, and Renovare Development.
The development is expected to be completed by the end of 2024.
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