This month I’m highlighting Michigan’s newly announced Employer Assisted Housing Fund. The program has been allocated $10 million to be granted on a matching basis to employers who are willing to devise solutions to affordable housing for their local workforce.
One interesting statistic cited in the introduction to the application portal is that between 2014 and 2023 Michigan built just 1 new home for every 14 new jobs. My guess is that they aren’t they only ones, but props to them for knowing their numbers.
The grant application portal is open now and funds will be awarded on a first come first served basis, contingent on matching dollars from the sponsoring employers and guarantees of continued affordability for a period of five years for purchased homes and ten years for rental properties.
Read more, including some examples of projects already underway here.