SPRING LAKE, MI (WHTC) – Good news for seniors in the Spring Lake/Grand Haven area! A new affordable senior apartment building will be constructed in the area utilizing Low-Income Housing Tax Credits from the Michigan State Housing Development Authority.
The building is called Mill Point Place and will be located north of M-104 between Park and Cutler streets near Lakeside Trails. Mill Point Place will be three stories high and house 24 two-bedroom, two bath individual apartments. The developer, Seybert New, has been awarded over $250,000 in tax credits for the project.
MSHDA believes that this building will be a good investment for potential buyers because the developers are able to claim the credits for the project every year for a 10 year period. This means that the developer could claim 10 times the original dollar amount over the years, which translates into a long-term community investment.
This year, MSHDA was able to award $14 million in tax credits to 20 different projects across the state for low-income housing developments.
– Caitlyn Burry