The Michigan State Housing Development Authority announced Low-Income Housing Tax Credit awards for 22 housing projects across the state last month, including an award for West Shore Apartments in Whitehall.
The apartment complex is receiving a $559,409 tax credit award, part of the $25 million invested statewide. Two other Muskegon County residential complexes - Lofts of Muskegon and Allen Crossing, both in Muskegon - received awards as well; Lofts received $1.65 million and Allen Crossing received $1.47 million.
The credits are administered through the MHSDA, allowing developer recipients to claim the credits against their tax liability for up to 10 years, making the total value of this round of credits about $250 million. In all, said the MHSDA, the 22 projects will create a total investment of over $300 million, with over 1,000 affordable new rental properties scheduled to be created.
“This year, we are working together to make the largest investment to build housing in Michigan history, driven by our simple philosophy of ‘build, baby, build’,” Governor Gretchen Whitmer said in a press release announcing the tax credit awards. “Building more affordable housing also creates thousands of good-paying jobs in the trades for pipefitters, carpenters, bricklayers, and roofers.”
