KALAMAZOO, MI (WKZO AM/FM) – A new strategy designed to make housing a little more affordable is now being employed by three local units, but it will only put a dent in the Kalamazoo County housing crisis.
The state has expanded the use of brownfield redevelopment to apply to housing, and instead of capturing future taxes to clean up contamination, it can be applied to housing subsidies.
Kalamazoo County Brownfield Redevelopment Director Macy Rose Walters says without help, developers can’t build them.
The city of Kalamazoo is applying the financing scheme to the Bronco Commons project on West Michigan. The city of Portage will allow two brand new apartment complexes to get brownfield funding.
Brian Farkas, with Allen Edwin Homes, says it wouldn’t be possible to build the projects without this kind of subsidy.
Just last week the county approved a brownfield plan for 275 single family homes in Pavilion Township.
Housing consultant Joe Agostinelli says it’s a workforce housing project, and it won’t be helping those who in lower income brackets.
Market prices for the homes in Pavilion Township will start at $400,000 and rent for the Portage apartments will be $2,500 a month. The brownfield subsidy will make it possible for about 10% of those units to be available at a lower price, based on the applicant’s income.
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