108-110 Glendale
About the project
Avalon Nonprofit Housing Corporation was established in 1992 as a spin-off from the City of Ann Arbor's emergency shelter for homeless individuals. Today, Avalon's mission is to "build healthy, safe and inclusive supportive housing communities as a long-term solution to homelessness," which they live out by helping over 750 individuals per year.
Avalon Nonprofit Housing Corporation is headquartered in Ann Arbor, MI.
LISC provided $283,500 in acquisition financing to assist with Avalon's purchase of a duplex building on the west side of Ann Arbor, an underinvested area in which they already own nine properties. This project will provide two units of deeply affordable housing for two families, with 1 unit restricted to households who are homeless and at or below 30% of AMI, and the remaining unit set at 50% to 60% of AMI.
Partner:
Avalon Nonprofit Housing Corporation
Location:
Ann Arbor, MI
Total Investment:
$283,500
Results:
2 units
Project Category:
Affordable Housing
Product:
Acquisition loan
Website:
UN SDGs:
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