At its August meeting, The Michigan State Housing Development Authority (MSHDA) Board approved funding for four affordable housing developments, which will rehabilitate and preserve 319 housing units in the state.

“Every month we continue to make progress implementing housing solutions that have a positive impact for residents, partners and local economies,” said Amy Hovey, CEO and Executive Director at MSHDA. “The projects approved by the Board get us one step closer to strengthening Michigan’s housing ecosystem and solving the housing crisis.”

The Board approved $5.5 million in funds to rehabilitate Crossroads Apartments, located in Reed City in Osceola County. Crossroads Apartments consists of 39 housing units with two accessible units, which include balconies and patios, in-unit laundry, along with a community room and playground.

During August’s meeting, the Board also approved the issuance and sale of rental housing revenue bonds along with an extension and increase to short-term revolving credit to finance single-family mortgages and down payment assistance loans.