In the heart of Midland, Michigan, a transformative project is underway that could redefine the landscape of affordable housing for countless families struggling to find a place to call home. Known as The Dean – Apartments at Eastlawn, this ambitious development is converting a 6.4-acre site, once the location of a historic school, into a thriving residential community. Spearheaded by River Caddis Communities in partnership with the Capital Area Housing Partnership, the initiative promises to deliver 204 units across multiple buildings, complete with modern amenities and a focus on community connection. With completion targeted for 2027, this project not only addresses the pressing need for accessible housing but also sets a precedent for innovative urban redevelopment. The integration of sustainable design and comprehensive financial backing further underscores its potential as a model for future endeavors in the state, sparking curiosity about how such a vision comes to life amidst economic and social challenges.
A Blueprint for Accessibility and Sustainability
The Dean stands out for its commitment to serving a diverse range of residents, targeting families with incomes between 40 and 120 percent of the area median income. This broad accessibility ensures that both low-income households and middle-tier workers can find a stable home without the burden of exorbitant costs. A unique aspect of the project is the inclusion of all utilities in the rent, a measure that significantly eases financial pressures on tenants. Beyond affordability, sustainability is a core pillar of the development, with energy-efficient designs, solar investments supported by federal clean energy tax credits, and amenities like bike repair stations promoting eco-friendly lifestyles. The community hub, featuring gathering spaces and outdoor connections for walking and biking, fosters a sense of belonging while encouraging healthy, active living. This holistic approach demonstrates how housing projects can go beyond mere shelter, creating environments that nurture both individuals and the planet in a meaningful way.
Innovative Financing as a Catalyst for Change
The financial framework behind The Dean is a testament to the power of collaborative effort in addressing housing shortages. A robust mix of funding sources, including $30 million in tax-exempt bonds from the Michigan State Housing Development Authority and a $37 million construction loan from Huntington Bank, underpins the project’s feasibility. Additional support comes from entities like the Michigan Economic Development Corp., which provided $3.3 million, and Cinnaire Equity Partners with a $22 million investment in federal tax credit equity. This diverse backing, complemented by contributions from local foundations and banks, reflects a shared recognition of affordable housing as a critical need. The approval of investment tax credits under federal guidelines further bolsters the initiative, showcasing how public-private partnerships can leverage incentives to drive community revitalization. Looking back, the assembly of such varied stakeholders marked a pivotal moment, setting a foundation for scalable solutions that could inspire similar projects across Michigan and beyond.
