In the current housing market, several constraints loom large. Escalating construction expenses render it challenging for builders to deliver quality homes below the $400,000 threshold. To address the requirements of our workforce, projects increasingly need to rely on gap financing and other resources to make financial sense. There's an increasing interest among local investors to initiate projects aimed at constructing housing that fits with this growing community need. This shift towards smaller-scale, community-oriented initiatives holds promise for meeting housing demands while integrating with our existing neighborhood dynamics.
Yet, taking on even a small housing project can come with a long list of requirements and boxes to check, that’s why technical support from Housing Forward is crucial.
So, how does it work? Interested developers, no matter how small, meet one on one and all project details are kept confidential. Housing Forward provides much or as little help as needed. Together, they bring together data to make informed decisions on how to create housing solutions within Midland County that represent the effort’s investment goals as well as strengthen the community through attainable housing.
Currently, Housing Forward is working with 12 client projects on efforts that have the potential to add over 400 new homes if matched by local demand. The projects span a variety of rental and sale units at various levels of attainable pricing spread across Coleman, Sanford and Midland.
One of those projects is a property development effort of approximately 50 acres for single and multi-family residential development in Coleman. Blaine Yeager, the project’s developer has received help from Housing Forward on the development’s multi-family units. The first phase of the project will include between eight and 20 units and ramp up to 100 units over the next decade if demand persists.
“There is definitely a need in Coleman for Missing Middle Housing that we can build with the help of the MI Neighborhood Program,” said Yeager. “If we get approval in a timely process, we’re going to be looking at breaking ground yet this year hopefully.”
The ease of the process transition and working with Housing Forward is something that Yeager noted was important in the project’s process.
“Jenifer and Housing Forward have held our hand throughout the whole process, making us checklists to keep us on track and helping us with the grant application,” said Yeager.
“Midland County has been substantially more workable than some of our partner’s work in Ann Arbor. I don’t think everyone gets this kind of assistance with these projects, so that has been helpful. Everything has been incredibly smooth, even though we’re not completely through the application process just yet. If we’re able to build 100 units over the next decade in Coleman it will really transform our community,” he said.
Another example of the impact is this assistance provided to local small developer Grant Murschel and his work on a mixed-use project with SPACE Real Estate Development that includes housing and commercial space in Midland’s Center City. Murschel is also applying for a MI Neighborhood Grant through MSHDA and has gotten grant application support and other technical assistance from Acosta and Housing Forward.
“Jenifer has always been a great resource in understanding the complex landscape in how to begin this process as a small-scale developer, especially when it comes to creating these new mixed-use developments that the market is really looking for and Midland doesn’t have a ton in areas with walkability,” said Murschel. “Development of this nature is quite complex when you’re trying to get a variety of sources in your capital stack, so having that expertise in someone like Jenifer that has done it before come alongside you is truly invaluable.”
It's a level of community-building knowledge that’s often only found in communities much larger than the Great Lakes Bay Region, and something Housing Forward hopes to capitalize on.
“It can be a bit daunting to get started, because it's quite risky, especially for those that know they need to make sure their first project is successful,” said Murschel. “Being able to lean on her years of experience in a way that moves the needle is a great way to mitigate a lot of that risk. So, we’re beyond blessed to have a nationally renowned leader in small-scale community development at our immediate advisory.”
Both projects are in the final stages of their MI Neighborhood Grant application with submission expected to be complete later this summer.
From the inception of a project, through its implementation and beyond, Housing Forward stands as a steadfast partner, providing invaluable assistance across various critical areas. Whether it's navigating through complex data landscapes or amplifying stakeholders' voices, Housing Forward's expertise and dedication pave the way for sustainable housing development by providing:
Data & Information Support: In an environment defined by data-driven decision-making, Housing Forward recognizes the importance of accurate and comprehensive information. By offering robust data and information support, Housing Forward equips builders and developers with the insights needed to make informed choices.
Stakeholder Advocacy: Housing Forward builds consensus and acts as a bridge between developers and stakeholders, advocating for inclusive and community-centric approaches.
Storytelling & Awareness Building: Beyond bricks and mortar, housing projects weave narratives that resonate with individuals and communities. Housing Forward recognizes the power of storytelling in shaping perceptions and garnering support.
Project Strengthening Assistance: Navigating the complexities of housing development requires a multifaceted approach. Housing Forward offers project assistance aimed at fortifying every aspect of a development.
Tools & Resources Provision: Access to the right resources can make all the difference and Housing Forward provides a helpful repository of tools, best practices and guidance, designed to streamline processes and create efficiency.
As builders and developers of all sizes work to create attainable housing solutions in Midland County, Housing Forward stands as an experienced partner to empower them as they realize their vision of vibrant, diverse communities where everyone has a place to call home.