New project in Holland Township addresses middle-class housing shortage
The project is the first family-oriented low-income housing tax credit project in Ottawa County in more than 20 years. Author: Keely Lovern Updated: 8:04 PM EDT May 10, 2021
OTTAWA COUNTY, Mich. New housing construction in Holland Township hopes to initiate more similar projects in the area. Hо̄m Flats at Felch Street is the first of its kind in more than two decades in the area.
According to Housing Next, Ottawa County s population is growing faster than any other county in the state. They say the county has grown by more than 10% over the last 10 years.
Grand Rapids Business Journal
Housing Michigan, a coalition of over 20 statewide organizations and dozens of other regional groups, including the Home Builders Association of Michigan, Grand Rapids Area Chamber of Commerce, Michigan Municipal League, Housing Next and many others, unveiled its legislative agenda last week in Lansing.
The agenda is focused on addressing the state’s housing crisis through a series of bipartisan legislative initiatives.
“(It) was a good day for Michigan as we addressed in a bipartisan manner a very serious issue the state’s growing housing crisis,” said Dawn Crandall, incoming executive vice president for government relations for the Home Builders Association of Michigan. “We cannot stress enough the urgency with which we need to focus on the legislative initiatives introduced (last week). We represent a diverse coalition of partners, but we speak with one voice because so much of our state’s economic future depends on our success.”
Grand Rapids Business Journal
Courtesy city of Grand Rapids
The Grand Rapids City Commission advanced its work to eliminate racial and ethnic disparities in housing in Grand Rapids and increase housing supply, as it discussed next steps in the formation of the Grand Rapids Housing Fund.
The discussion followed recommendations made during the committee of the whole meeting by city administration with support from the city’s housing practice leader, Housing Next.
The proposed, non-endowed, designated housing fund would help assist low- and moderate-income residents, preserve existing affordable housing and make bridge loans for acquisition and pre-development costs with nonprofit developers. The two-pronged policy recommendation includes an operations policy and fiduciary for housing funds.
Grand Rapids Business Journal
GRAR says first-time homebuyers especially are struggling in a hot market.
Rapids/Kentwood area, and the income needed to be able to afford such a home is about
$67,000 per year. Photo by iStock
While workers in the Grand Rapids-Wyoming metro area have seen their wages grow by 5.2% over the past six years, the area’s average sale price for a single-family home has increased 64.5% during the same period.
According to the Greater Regional Alliance of Realtors, the average home sales price went from $152,274 in January 2015 to $248,170 this January.
According to GRAR, 99.6% of single-family homes sold above the list price in January 2021 compared to 96% in January 2015. The average number of days a single-family home was on the market in 2015 was 71, compared to 34 this year.
Comisionados de Grand Rapids debaten sobre desigualdad en derecho de viviendas elvocerous.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from elvocerous.com Daily Mail and Mail on Sunday newspapers.