Strategic Fund Approves $209.4M Housing Investment in Ann Arbor
What happened
The Michigan Strategic Fund approved the Transformational Brownfield Plan for the Arbor South project in Ann Arbor. This plan involves a 20-story building that will create 330 affordable housing units and commercial space. The project secures a $209.4 million investment through tax capture, a $10 million loan to the Michigan CDFI Coalition, an amended Our Next Energy grant, and Camp Michigania bonds. The plan was approved by the Office of Michigan Governor - Governor Whitmer and the Michigan Strategic Fund Board.
From newsroomamerica.com
Why it matters
The investment represents a major push for affordable housing and economic development within the state. The funding structure includes a $651 million project scope, leveraging state and local financial instruments to drive development.
From newsroomamerica.com
Who's involved
- MichiganState of Michigan where the project is located and the fund operates.
- Ann ArborLocation of the approved housing and commercial development project.
- Gretchen WhitmerExecutive authority whose office approved the plan alongside the fund board.
Keep exploring
The entities involved
-
Michigan
state of the United States of America
-
Ann Arbor
county seat of Washtenaw County, Michigan, United States
Related events
- The state of Michigan allocated funds for infrastructure maintenance through the Neighborhood Roads Fund.
- Investments are being made in rural communities across Michigan, supported by leadership praised for backing rural development.
- Michigan provides state funding for a downtown redevelopment project in Owosso.
- Cooper Standard is expanding its operations in Michigan, backed by state grants and investment.