The state is investing in more affordable housing projects across Michigan.
The Michigan State Housing Development Authority will provide $17.8 million in low-income tax credits for businesses to build or rehab affordable housing units, a news release said Friday.
Seventeen businesses received the awards – including Samiritas in Muskegon and Belknap Place in Grand Rapids.
Both of them will get about $1 million each to build new, affordable apartments.
“MSHDA’s partnership with private developers is a win-win for the state,” said Gary Heidel, acting executive director for MSHDA. “By increasing the availability of affordable housing, MSHDA is making sure that families can continue to live a great quality of life and communities have the housing they need to grow.”
The investments will help create more than 3,500 new jobs in urban and rural communities across the state, according to the MSHDA.
Of the 17 total projects, 13 are new construction, which will bring 621 apartments online.
Four existing properties will have 350 apartment units rehabbed.