Governor Whitmer Unveils Statewide Projects to Bolster Housing, Business, and Community Development
Michigan is embarking on a transformative journey with recent approvals from the Michigan Strategic Fund (MSF) Board, aiming to enhance community development, housing, and business growth. Governor Gretchen Whitmer announced these strategic initiatives which promise to bring significant benefits across the state.
“Every Michigander deserves a safe and affordable place to call home and a good-paying job,” stated Governor Whitmer. “Today’s projects will create affordable housing, support small businesses and community hubs, and create good-paying jobs for Michiganders.”
Arbor South Project to Revitalize Ann Arbor
A significant development is set to take place in Ann Arbor through the Arbor South project. This mixed-use development will transform an underutilized corridor into a vibrant community hub featuring multifamily housing, office spaces, retail outlets, and amenities, including a public plaza for community events.
The MSF Board has approved an Act 381 Work Plan for this project, allowing for state tax capture on eligible activities capped at $110,699,520. The total anticipated capital investment is over $651 million, aiming to add 1,069 housing units and revitalize more than 2.2 million square feet of space. The local contribution is valued at $201,850,416.
Jeremiah Thomas, COO of Crawford Hoying, remarked, “Arbor South represents a groundbreaking new mixed-use development that will create lasting value for the Ann Arbor community for decades to come.”
$10 Million Loan to Boost Michigan CDFI Coalition
The MSF Board has also sanctioned a $10 million loan to the Michigan CDFI Coalition, aimed at enhancing lending capital for Michigan-based non-depository Community Development Financial Institutions (CDFIs). These mission-based lenders provide crucial financing for small businesses, affordable housing, and community spaces.
According to data, from 2005-2023, Michigan CDFIs deployed $6.3 billion in loans, supporting over 26,000 enterprises and creating or retaining more than 82,000 jobs.
Amendments to Critical Industry Program Grant
Further approval has been granted for an amendment to the grant awarded to Our Next Energy, a Michigan-based energy storage company, to support a battery technology manufacturing facility in Van Buren Township. This amendment allows the company to expand its focus to include defense, rail, and grid storage markets.
The revised agreement includes a reduced CIP award of $150 million and an increase in the project’s total capital investment to $1,672,495,944. While job creation is now projected at 1,606 new jobs, the company remains a vital player in the U.S. battery market.
Enhancements to Camp Michigania
Lastly, the MSF Board approved private activity bonds to finance improvements at Camp Michigania, a family camp run by the Alumni Association of the University of Michigan. The bonds, not exceeding $15 million, will support infrastructure upgrades and expand equestrian operations, potentially creating several full-time and temporary jobs.
The construction is expected to commence in Fall 2026, marking a new chapter for the camp located on Walloon Lake in Boyne City.
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