The Grove at Veridian

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The Grove at Veridian will be a 50-unit Low Income Housing Tax Credit (LIHTC) development located at 2270 Platt Road in Ann Arbor, Michigan. 20 units will be set aside for households at or below 60% of the area median income (AMI). 30 permanent supportive housing units will be set aside for households at or below 30% of the AMI who are chronically unhoused.

The Grove at Veridian

Referrals for these 30 units will come directly from the top 10% of Washtenaw County’s Continuum of Care (COC) prioritized list for housing. COC coordinates housing, services, and funding for homeless families and individuals in the county.

Huntington Community Impact Capital (CIC) will provide a $12.5 million construction loan. In addition, the state and county have committed to provide significant support with over $4 million in grants and soft debt.

Avalon is an existing CIC sponsor with over 30 years of experience developing and managing affordable permanent supportive housing projects for unhoused people with behavioral and physical health challenges, including mental illness and substance use disorders. Today, Avalon owns and operates 389 units at 29 sites in Washtenaw County.

Huntington Community Impact Capital is proud to support this highly transformative affordable housing development.