DETROIT – The state of Michigan approved the Missing Middle Housing Grant to help relieve some of the pressure on Detroit Metro families struggling with the cost of rent or mortgages.

This is a one-of-a-kind investment to address an important problem in Detroit.

“We talked to people from all over the state about, you know, the upper peninsula down into the southern parts of the state and rural areas and into more urban areas, and, you know, the problem is the same,” said Chad Benson of the Michigan State Housing Development Authority.

It’s called Missing Middle housing, and it’s for families living in houses, townhouses, or multi-family apartment buildings who earn between $50,000 and $83,000 a year.

Michigan’s median income last year was $63,000, squarely in the middle of the Missing Middle.

So this week, the state’s housing development authority is opening the floodgates for $50 million to developers to build new homes. The money is intended to offset construction costs to keep rents or mortgages low for these families.

“We really hope that this will, you know, go a long way in order to help somewhat alleviate the burden that, you know, Missing Middle households have in terms of finding units that they can afford to rent or to buy. .

So far, only $15 million is available to developers, with more to come next spring, but that will be a waiting game for building locations. A wait with the hope that it will bear fruit on the road.

They think about 1,000 houses will be built with the money. They are also setting aside 30% of funds to target rural Michigan as well, because the pain is felt for so many people no matter where you live.

Copyright 2022 by WDIV ClickOnDetroit – All Rights Reserved.

About The Author

Related Posts