Michigan announces 46 homes to be built near Ypsilanti's Depot Town
YPSILANTI, Mich. (CBS DETROIT) - More than 40 single-family homes are planned for development near Ypsilanti's Depot Town.
State officials say 50% of the 46 homes will be designated for families with incomes between 40% and 80% of the area median income through a workforce home financing program.
According to a press release, the estimated $12.9 million project will include public infrastructure and other site improvements, a linear park with pathways, seating, and a play area. Renovare Ypsilanti Home will construct the houses on a 4.5-acre site.
"Renovare Development is committed to providing solutions for Michigan communities that include missing middle and workforce housing," Renovare Development managing partner Jill Ferrari said in a statement. "As a majority woman-owned and woman-led company, we are encouraged by the creativity our partners have shown in the development of tools to tackle the housing crisis. We look forward to completing this project and preserving housing affordability for future generations of Ypsilanti residents."
Ypsilanti is one of six communities receiving funding to build a total 60 new homes and space for businesses. Other cities receiving funding include Milan, Sturgis, Calumet, Otter Lake and Ionia.
The total investment is estimated to be $18 million.
"These placemaking investments reflect our continued focus on regional impact and supporting vibrant community spaces that lay the foundation for long-term economic wins and greater opportunity for all Michiganders," Matt McCauley, senior vice president at the Michigan Department of Economic Development Corporation, said in a statement.
"We are grateful to the Governor and legislators for their continued support of the Michigan Community Revitalization Program among other efforts. By working with local partners to focus on traditional downtowns and increase much-needed housing options, Team Michigan is building on our strong sense of place while supporting vibrant, unique places where current Michiganders and those we will attract can live, work, visit, and play."