KALAMAZOO, MI (WKZO AM/FM) – Kalamazoo County officials are expected to sign off on their approvals for a major new housing project in Oshtemo Township.
If all goes as planned, the mixed-use development will bring more commercial properties to 48-acres of vacant land across West Main Street from the headquarters of Advia Bank.
County Brownfield director Mary Rose Walters says it will bring 444 new housing units to the county.
“About 108 duplexes and those would be proposed to be for sale,” says Walters, adding “There would be 336 multifamily units proposed to be for rent.”
It could increase the township’s population by 5% and put a major dent in the thousands of homes the experts say the county needs to catch up to housing demand.
It would increase the taxable value of the land from $1.4-million to over $70-million.
The county board is being asked to approve a Brownfield Development Incentive that would return $39-million to the developer of the $117-millon they plan to spend.
They would use that money on infrastructure and to provide reduced rental rates for residents who need more affordable rates, with those being people who fall below 80% of the Average Median Income.
Housing consultant Joe Agostinelli says they need that assistance to make the project economically viable.
“The underlying economics of market rate development no longer works largely anywhere in Michigan, you need incentive to make the market rate development work.”
Board chair Jen Strebs also pressed them to also accept vouchers that the county board is planning to issue to additional low-income residents next year.
“This board as it sits now really wants to see the opportunity for average income working people to be able to afford to live in our community, and we are willing to support that effort with local housing vouchers.”
Agostinelli says they might be interested but would like to see specifics on the plan first.
The county board has set a public hearing on the proposal for their next meeting.
Walters says if all goes as planned, they could begin construction this year.
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