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Michigan Community Capital


  • PK Companies
  • Third Coast Development
  • Whirlpool Corporation
  • Rockford Construction
  • West Investment Group
  • Verso Paper
  • Heart of the City Health Center-Grand Rapids
  • Rowe Engineering


Types Of Projects Affordability Monitored Affordability
Mixed-use and mixed income multi-family rental or for-sale housing. Our target is the "Missing Middle" or "Workforce Housing," typically addressing households with incomes between 60% and 120% of the Area Median Income. We utilize a Rent Cap method which is revalidated at each lease. Rents do not decrease but increases are held to changes in the Area Median Income.
Types Of Investment Investment Size Length Of Investment
Equity via the purchase of a membership interest in the project owner. We target investments between $1 million and $5 million, but will consider projects above and below those targets based on how compelling the project is from a "Mission" perspective. Our investments are long-term. We anticipate a 10+ year ownership horizon and seek predefined purchase options annually beginning in year 7.
Asset Management Return Objective Customary Rights
All projects are asset-managed by either a related asset management company or bid to a third-party asset manager. We do not typically use a "preferred return" model, but instead prefer to go "at-risk" on a pro-rata basis with some consideration to the managing member for guaranteeing debt and executing the transaction. We do not guarantee project debt. Typical rights afforded a majority non-managing member include—but are not limited to—the right to approve refinancing and sale of the asset, admit new partners, approve partner exits, and replace asset management team for cause or poor performance.
Statutory Provisions Get Involved!
Along with certain language required to meet IRS rules related to our status as a tax-exempt public charity, portions of our funding require certain statutory provisions and positions determined by the Michigan State Attorney General and the MSF Act to be included in the project owner operating agreement. Our funders are always reviewing whether we’re meeting our Mission, specifically supporting investment in low-income communities and affordable housing for working-class families in otherwise outpriced markets. If you have a project requiring a unique capital solution, we encourage you to reach out to us. Simply visit the Contact section of our website.