Millions invested to address housing shortage in West Michigan
TL;DR Summary
The Michigan Strategic Fund Board has approved a $10 million loan award to the IFF to administer a Workforce Housing Loan Fund in Allegan, Ottawa, and Kent Counties. The fund aims to address the need for around 50,000 housing units in the area by 2027, following the approach of regional leaders who have approved similar funds. The focus of the fund will be on providing housing for residents with incomes between 60% and 120% of the area median income.
- $10M housing loan fund created for Allegan, Ottawa, Kent counties WOODTV.com
- Nonprofit receives $10M state loan to invest in West Michigan housing projects Crain's Grand Rapids Business
- Apartments planned for vacant lot near Wealthy and Division WOODTV.com
- Michigan awards millions to build more rental housing across the state MLive.com
- State invests $10M to help solve ‘critical’ workforce housing shortage in West Michigan MLive.com
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