KALAMAZOO, MI (WKZO AM/FM) – A special meeting of the Kalamazoo city commission will be held tonight to come to the rescue of a housing project for seniors on the Northside.
It can take months and years for a developer to put together financing for an affordable housing project, and the market has been changing constantly over the last few years.
The city first approved a million-dollar loan from ARPA funding for the Legacy Senior Housing project at 703 North Burdick in August 2023. Since then, development dates, promissory notes and mortgage deals have changed, requiring a rewrite and re-approval of the ARPA loan.
Housing Development Director Sherilyn Parsons says housing projects need these kinds of incentives these days.
“To bring what we want in the city, as well as what is viable as a development project,” says Parsons.
If approved, construction is set to begin in weeks.
The special meeting is set for 5 p.m. this afternoon.
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