In what might be good news for the area, Kalamazoo and Portage will be receiving a combined $3 million in state tax credits to go towards affordable housing developments:
Quote:
Southwest Michigan affordable housing projects awarded tax credits
Malachi Barrett | MLive
January 30, 208
KALAMAZOO, MI -- Millions of dollars in state tax credits are going toward affordable housing projects in Southwest Michigan. The Michigan State Housing Development Authority announced Friday it is awarding 13 developments with $13 million in low-income housing tax credits. Among the winners are rehabilitation and construction projects located in Kalamazoo, Portage and Niles...
...The Village of Kalamazoo Apartments, which plans the rehabilitation of an existing 165-unit apartment complex, is set to receive $1.47 million in credits each year. The credits will help developer Hope Network fund necessary renovations to upgrade 159 units. Selinon Park in Portage will receive $1.4 million in annual credits. The project includes construction of 75 units of rental housing in three buildings...
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