It took three tries, but the developers behind a long-in-the-works senior housing project on the west side of Grand Rapids have secured federal low-income housing tax credits.
Co-developers Genesis Non-Profit Housing Corp. in Grand Rapids and Manistee-based Little River Holdings LLC on Thursday were awarded more than $1.4 million in federal LIHTC funding by the Michigan State Housing Development Authority for the Leonard Apartments project. The developers have proposed the 55-unit senior housing project at 851 Leonard St. NW and 850 and 860 Courtney St. NW in Grand Rapids.
John Wynbeek, executive director of Genesis Non-Profit Housing Corp., said the LIHTC credits, when combined with the $1.2 million in American Rescue Plan Act funding the city of Grand Rapids awarded the project in May, now will allow the $16.2 million project to move forward.
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