LANSING, Mich. (WZMQ) -The Michigan State Housing Development Authority (MSHDA) is rolling out $60 million in funding with a new MI Neighborhood program to help meet the state’s housing needs.
In the Upper Peninsula alone, we’re around 7,000 units short of what is needed according to Michigan’s statewide housing plan and its 15 region-specific plans.
MSHDA’s Executive Director, Amy Hovey, said the program was created to be responsive to each community’s individual needs.
“This program will really look at each of those individual regions and meet whatever needs they are picking as a priority,” Hovey said. “What is needed in Marquette isn’t the same type of housing that’s needed in Escanaba, and we really want to be able to help everyone meet their needs.”
The online applications are open for non-profit and for-profit developers, as well as local municipalities looking to fund projects that create regional housing solutions. The funding can also be used for rehab or new construction projects that include single-family, or multi-family units. You can find more information about those applications here: Michigan.gov/mshda/neighborhoods/mi-neighborhood
The U.P. is made up of 3 housing regions: western, central, and eastern. Hovey said that as long as the project meets families at 120% of the area median income and below, it’s eligible for the funds.
The program is also set to receive more funding with the new fiscal year in October.
“We see that we’re going to keep funding this program year after year and for the foreseeable future,” Hovey said. “This will allow developers to plan now for projects for tomorrow and for next year.”
Hovey said the housing development authority is excited to roll out the funding as another step to address housing shortages and the differences in priorities in each region.
