MCC receives nine recognition awards in 2023.
LANSING, MICH. – 2023 was an award-winning year for Michigan Community Capital (MCC) who accepted nine recognition awards for multiple developments and New Markets Tax Credits investments.
Five national recognitions received in 2023 included:
Jack Kemp Excellence in Affordable and Workforce Housing from the Urban Land Institute (ULI) for MCC’s Mt. Pleasant development, Broadway Lofts.
Learn more about this recognition and project here.
Gold Winner for Real Estate Redevelopment & Reuse from the International Economic Development Council (IEDC) for MCC’s Mt. Pleasant development, Broadway Lofts.
Learn more about this recognition and project here.
Gold Winner for Innovative Project Financing from the International Economic Development Council (IEDC) for MCC’s Mt. Pleasant development, Broadway Lofts.
Learn more about this recognition and project here.
Real Estate QLICI of the Year from the 2023 Novogradac Journal of Tax Credits Community Development QLICIs of the Year for MCC’s New Markets Tax Credit involvement in The Freelon at Sugar Hill.
Learn more about this recognition and project here.
Small Business QLICI of the Year from the 2023 Novogradac Journal of Tax Credits Community Development QLICIs of the Year for MCC’s New Markets Tax Credit involvement in Detroit Food Commons.
Learn more about this recognition and project here.
Four regional/state recognitions received in 2023 included:
2023 Tax Credit Award from the Michigan Historic Preservation Network (MHPN) for MCC’s Ludington development, Lofts on Rowe.
Learn more about this recognition and project here.
AIAGR Honor Award from the American Inst. of Architects (AIA) for MCC’s Lansing development, Temple Lofts.
Learn more about this recognition and project here.
Celebration of Regional Growth Award from the Lansing Regional Chamber of Commerce for MCC’s Lansing development, Temple Lofts.
Learn more about this recognition and project here.
New Development of the Year from the Property Management Association of Michigan for MCC’s Lansing development, Temple Lofts.
Learn more about this recognition and project here.
“At MCC, we let our work speak for itself and it’s rewarding to see regional and national stakeholders lift up the work of our incredibly dedicated and talented team,” said Eric Hanna, president and CEO at MCC. “By listening carefully to the needs of the disinvested communities we serve and putting the mission before the money, we inevitably end up with strong projects in stronger communities.”
For 18 years, Michigan Community Capital (formally Michigan Magnet Fund) has invested in transformational community development projects across the state of Michigan that create housing, jobs and access to fresh food through NMTC allocations. Since the organization’s inception, MCC has worked to advance these projects using the best tools possible, even if it means creating new tools or wearing new hats.
Starting in 2018, MCC began taking its lending and investment know-how and started developing projects. As of today, in its development practice alone, nine (9) properties developed and/or co-developed by MCC have led to more than $89 million in investment in Michigan communities, creating 421 new residential units and 68 new permanent jobs, and activating almost 350,000 square feet of indoor real estate. In addition to the nine awards received in 2023, MCC’s developments have previously received one national and two regional awards.
All the awards were made possible by innovative financing structures with public, private and philanthropic partners.
About Michigan Community Capital
Michigan Community Capital (MCC) is a non-profit diversified public-private partnership that supports the missions of the Michigan Economic Development Corporation (MEDC) and the Michigan State Housing Development Authority (MSHDA) by aggregating capital and facilitating the financing and development of low-income and attainable housing, and the redevelopment of complex brownfield sites within the State of Michigan. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and the only Community Development Entity (CDE) that deploys this resource solely throughout the entire State of Michigan. Since 2005, MCC has supported over $1.3 billion in project financing, successfully attracted $445 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units, 4.3 million square feet of commercial, retail and industrial space to facilitate job creation and expansion, and has insured over 22,000 affordable multifamily doors. MCC drives community development impacts in four key areas: Real Estate Development, CDFI lending, New Markets Tax Credits, and affordable Property Insurance. michigancommunitycapital.org
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