A major Ann Arbor affordable housing project has been awarded a large grant from the Michigan State Housing Development Authority. WEMU’s Kevin Meerschaert reports.
The MSHDA Board approved $118.6 million dollars for the development planned for 350 South Fifth Street. When completed, the 20-story high-rise will bring 330 new affordable housing units to the downtown area. Ann Arbor Housing Commission Executive Director Jennifer Hall says the state funding is a huge step for the development.
“Most of these funds are related to a 4% low income housing tax credit award from MSHDA so without MSHDA’s participation we would have no project. Without these tax credit programs, we would not have a project.”
The building’s amenities will include a fitness center, community rooms and working space. It will be the first exclusively affordable housing high-rise in Ann Arbor.
