National Church Residences has completed a $10 million renovation at Clark East Tower, a 200 unit affordable senior housing community in Ypsilanti, MI. A grand re-opening celebration will be held at 11 a.m. Thursday, July 13, at the community, located at 1550 E Clark Road.
Clark East Tower was built in 1979 and purchased by National Church Residences in 2006. The renovation included an expansion of the community room, update of building systems, new cabinets, flooring and fixtures in resident units and the addition of a medical suite, outdoor walking path, community garden and dog park.
Michigan State Housing Development Authority (MSHDA) awarded Clark East Tower a 9% Low Income Housing Tax Credit (LIHTC) award for the renovation. National Equity Fund assisted in the sale of the tax credits. National Church Residences deeply appreciates the work of these groups, as well as support from HUD and Ypsilanti Township, which made the renovation of Clark East possible.
National Church Residences has a strong presence in Michigan, operating 17 senior communities there. Since the LIHTC program began in 1986, it has incentivized affordable rental housing developers, including National Church Residences, to build or rehabilitate more than 20,000 apartments for Michigan seniors and other individuals and families.
MSHDA administers the federal tax credits in Michigan. “The LIHTC program is a public-private partnership that allows developers to renovate and construct quality, affordable housing for low- and mid-income families and individuals,” said Earl Poleski, MSHDA’s executive director. “LIHTC is essential to meeting Michigan’s affordable housing needs and serves to boost local economies.”