State Senator Mark E. Huizenga | Michigan House Republicans
State Senator Mark E. Huizenga | Michigan House Republicans
Sen. Mark Huizenga has expressed support for a new apartment development project in Grand Rapids, which will add 171 units to the local housing market with assistance from a state-backed loan.
“More needs to be done, but this new apartment project is a positive step forward in solving the problem of affordable housing in Grand Rapids and all of West Michigan,” said Huizenga, R-Walker. “In helping revitalize a long-vacant property in Grand Rapids into residential and commercial space, this development represents a great return on investment for Michigan taxpayers. This is a big day for the future of Grand Rapids.”
The Michigan Strategic Fund recently approved up to $4 million in loan funding through the Michigan Community Revitalization Program Other Economic Loan Participation to 301 Leonard LLC. The financing will support construction of “The Horizon,” a five-story mixed-use building that will include workforce housing, retail space, and an underground parking garage.
Plans for The Horizon call for 86 studio apartments, 91 one-bedroom units, and four two-bedroom units. In response to ongoing concerns about affordable housing access in Grand Rapids, developers have stated that 20% (36) of the apartments will be set aside for households earning no more than 110% of the area median income. Additionally, ten units will be reserved for residents at or below 70% of the area median income.
The project aims to help address housing shortages while revitalizing unused property within the city.
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