This project will renovate five buildings and 22 residential units in Detroit.
FOR IMMEDIATE RELEASE
August 6, 2025
LANSING, Mich. – Michigan Community Capital provided a $2,250,000 real estate construction loan to finance capital improvements to five existing affordable rental properties, preserving affordability for nearly 50 low-income residents across 22 units in the city of Detroit. The redevelopment is being led by the Church of the Messiah Housing Corporation (CMHC) and Capital Area Housing Partnership (CAHP). The loan was provided to Bridgeview III Limited Dividend Housing Association Limited Partnership (BV III) through the Low-Income Housing Tax Credit structure.
“Rising rents and the limited supply of affordable housing has resulted in an affordable housing crisis in Detroit. We are deeply grateful to our funding partners the Opportunity Resource Fund, City of Detroit, Marble Cliffs Capital, Michigan Community Capital (Magnet Lending Corporation), Cinnaire Lending, and Enterprise Community Partners for making this project a reality,” said Richard Cannon, executive director at the Church of the Messiah Housing Corporation.
Additional funding for the project includes an investment of more than $1.9 million in tax credit equity from Marble Cliff Capital and permanent financing from Cinnaire through a new small loan program geared specifically for developments such as Bridgeview III. The Opportunity Resource Fund provided more than $250,000 in predevelopment funding that was paid back at closing. Other predevelopment funds were provided by Enterprise Community Partners, Inc. through the City of Detroit’s Preservation Program and a HUD Section 4 grant.
“Diversity doesn’t always mean race or gender. In the context of neighborhoods, it also means income,” said Eric Hanna, president and CEO at Michigan Community Capital. “Maintaining and preserving affordable housing will ensure that new investment in many of Detroit’s neighborhoods is blended with its existing housing and create opportunities for relationships and community to form organically across all income bands. We’re thrilled to support such work with such strong partners.”
Capital improvements will include energy upgrades, HVAC, new roofs, parking lot repairs, carpeting, bathroom and kitchen upgrades, appliances, repairs to exterior stairs and patios and landscaping. There are multiple long-term tenants who have lived in the units for over a decade. Current tenants will be temporarily relocated during the renovations at no direct expense to them and they will be able to return to their same units.
“Cinnaire is proud to support Bridgeview III,” said Sarah Greenberg, president, Cinnaire Lending. “Through our new small loan program, we’re ensuring that high-quality, family-sized affordable housing remains accessible in Detroit neighborhoods where it’s needed most. This investment not only preserves affordability for current residents but also supports local jobs and strengthens the fabric of the community.”
CMHC has provided affordable rental units large enough for families for over 30 years. Between the five properties there are four (4) two-bedroom units and 18 three-bedroom units. Seven units will be made available to very low-income families (20%-40% Area Median Income (AMI)), and the remaining 15 units will be available to families earning 60% AMI or lower.
Three property management jobs will be retained because of this project, and 45 construction jobs will be created or retained.
BV III is less than two blocks from one of Detroit’s most famous and most used thoroughfares, Jefferson Avenue. Jefferson Avenue is a 63.71-mile-long scenic road along the eastern part of the Detroit metropolitan. It travels alongside Lake Erie, the Detroit River, and Lake St. Clair. This road also provides access to many recreational facilities in the area. West Jefferson Avenue is primarily commercial, while East Jefferson Avenue contains a historic residential district. There are many grocery stores, businesses, office buildings, and apartment buildings along the way in addition to the churches, schools, medical facilities and other amenities right in the neighborhood.
“Preserving affordable housing is just as important as building new units—especially when that housing has served Detroit families for generations,” said Julie Schneider, director of the City of Detroit’s Housing and Revitalization Department. “The Bridgeview III renovation ensures that 22 households will continue to have access to safe, modern, and affordable homes without displacement. We’re proud to support this effort and to work alongside partners who are committed to maintaining the dignity, stability, and opportunity that quality housing brings to our communities.”
Church of the Messiah Housing Corporation originally developed Bridgeview I (BV I) and Bridgeview II (BV II) in the early 2000s with LIHTC equity and City of Detroit HOME funds. The units have been consolidated into a new entity BVIII.
Follow progress of this project on Facebook at: https://www.facebook.com/CMHC1. As the development gets closer to completion leasing information can be found at www.messiahhousing.org.
About Capital Area Housing Partnership
Capital Area Housing Partnership is a mission-based nonprofit focused on developing strong and diverse neighborhoods, emphasizing affordable housing, homeownership opportunities, and financial security. We envision healthy and vibrant communities created by supportive services and opportunities that lift individuals and families to secure a safe, quality, and affordable place to call home. Our work is more than bricks and mortar. Housing is an equal right for all, and we remain steadfast in building opportunities and transforming possibilities for people and our neighborhoods. CapitalAreaHousing.org
About Church of the Messiah Housing Corporation
CMHC has been developing and providing safe, decent, and affordable housing for low and very low-income households in Detroit since 1978. CMHC seeks to foster community-based economic development for Detroit entrepreneurs and increase economic and housing stability for very low-income residents living in under-resourced communities in Detroit. CMHC promotes equitable development so that BIPOC and low-income households can stay in place and benefit from amenities created by public and private investments. www.messiahhousing.org.
Michigan Community Capital
Michigan Community Capital is a 501(c)(3) nonprofit that exists to promote community and economic development, the creation of wealth and job opportunities; and to facilitate investment of private and public capital in Michigan. MCC is focused on driving economic mobility of low- and moderate-income Michigan residents and drives community development impacts in three key areas: Real Estate Development, CDFI lending, and New Markets Tax Credits. MCC is a U.S. Treasury certified Community Development Financial Institution (CDFI) and a Community Development Entity (CDE). Since 2005, MCC has supported over $1.4 billion in project financing, successfully attracted $510 million in federal New Markets Tax Credits, and helped to create over 1,500 housing units and facilitated the creation and/or retention of over 5,000 high-quality, accessible jobs. Michigancommunitycapital.org.
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