Century Terrace, Harborview awarded over $1M tax credit
EJP serves as the development advisor to the City of Manistee Housing Commission.
ERIN GLYNN firstname.lastname@example.org
MANISTEE — Century Terrace and Harborview Apartments in Manistee are one step closer to fixing structural problems and updated units.
The Michigan State Housing Development Authority announced early this month that it was awarding more than $1.4 million in Low-Income Housing Tax Credits Century Terrace and Harborview Apartments.
The housing authority awarded $17.8 million in Low-Income Housing Tax Credits to 17 projects in the state on Oct. 2, and the amount awarded to Century Terrace and Harborview Apartments was the second-largest on the list.
The City of Manistee Housing Commission laid out plans to rehabilitate the apartments at a Manistee City Council work session in February.
The commission noted in a news release issued on Oct. 5 that it prefers tenants who are elderly and tenants with disabilities when it comes to the apartments.
“Manistee has an aging population and the smaller unit sizes and extensive community spaces make these communities well suited to tackle the need for affordable rental units for that population,” the commission said the release.
The rehabilitation is meant to address structural problems with the Century Terrace building, including a leaky roof, and update the apartment units and common areas of the Harborview building. It will also include some cosmetic upgrades, according to the housing commission.
There’s a competitive application process for a Low-Income Housing Tax Credit award from the housing authority. They are federal tax credits, meaning that developers will be able to subtract the amount of the credit from the amount of taxes they owe on the development.
The Century Terrace building has 119 apartment units. Since the building’s construction in 1970 there’s been only one significant remodel: an upgrade its insulation and energy efficiency systems roughly 10 years ago, according to the release from the housing commission.
The Harborview building was constructed in 1983 and has 48 units. The commission plans to make 10% of the units in each building barrier-free after the rehabilitation, meaning those units will be accessible to people with disabilities – wheelchair users in particular.
This redevelopment is part of the commission’s plan to redevelop their public housing through the Rental Assistance Demonstration program, rather than U.S. Housing and Urban Development, as the RAD program gives housing authorities full control and ownership of the
The project is expected to last 15 months and has a tentative completion date in May 2022, said Clinton McKinven-Copus, executive director of the housing commission, in an emailed statement to the News Advocate.
“However, we are reviewing our timeline to see if (the completion date) needs to be changed since the announcement from MSHDA was late because of COVID-19, McKinven-Copus said.
McKinven-Copus also clarified that current residents of the Century Terrace and Harborview apartments will not need to live elsewhere during the rehabilitation period, though they will need to leave during the day while it’s occurring. He added that the commission will be sharing a fully developed plan with residents before rehabilitation begins.