07/09/2026
MCC has invested $3 million of New Markets Tax Credits to support a $16.3-million project by Habitat for Humanity of Kent County in Grand Rapids, Michigan. ๐ This transaction marks MCC's first investment in for-sale housing, a key priority for the organization as it works to expand access to homeownership for low-to-moderate income families across Michigan.
๐ก Project Highlights:
- $3 million in NMTCs from MCC
- $16.3-million project
- The construction of a new affordable 27-unit for-sale, multi-family condominium building
- 16 homes affordable at 80% AMI or below
- 11 homes affordable at 80%-120% AMI
- Habitat Kent's headquarters and ReStore moved to a consolidated location in a rehabilitated building
- Creation of jobs in a severely distressed census tract in Grand Rapids
Learn more here: https://michigancommunitycapital.org/michigan-community-capital-invests-in-habitat-for-humanity-of-kent-county-to-bring-affordable-for-sale-housing-and-new-headquarters-to-grand-rapids/
Habitat for Humanity, JPMorganChase, IFF, Mercantile Bank
MCC invested $3 million of federal New Markets Tax Credits to support a project by Habitat for Humanity of Kent County (Habitat Kent) in Grand Rapids, Michigan. The investment will finance construction of a new 27-unit, for-sale, multi-family condominium building in the Roosevelt Park neighborhood,....