The new Ingham County Housing Trust Fund is granting millions of dollars to nonprofits and businesses to support affordable housing projects.
In 2021, Ingham County leaders utilized $9 million from the federal American Rescue Plan Act to establish the new fund.
It's primary objective is to provide grants to support housing developments designed for low- and moderate-income residents. The recipients of the fund's inaugural grants were announced Wednesday.
Allen Fox is the Ingham County Treasurer and chair of the Housing Trust Fund. He says eleven nonprofits and businesses in the area are collectively receiving more than two million dollars.
"These funds will aid in creating 128 new units and rehabilitating 20 rental units that already exist but require extensive work," he explained.
Despite the relatively lower cost of living in Lansing compared to other major cities across the country, Fox notes many residents in the region still grapple with the challenge of finding affordable housing.
"In the current economy, with the current costs, there is no way to address the housing supply issue. It's a critical market failure right now," he emphasized. "These projects are just a drop in the bucket — the housing needs in Lansing and Ingham County are very severe."
He says one project involves establishing a cooperative living space on the top floor of Lansing's Allen Neighborhood Center.
"This project brings together various needs and resources to create a place that will be cooperatively managed, not by a landlord nor exactly owner-occupied," he added.
The cooperative will offer housing to 16 Lansing residents, with each unit providing one to two bedrooms in addition to shared living spaces.
"Allen Place Co-op will address a critical need for young adult refugees arriving in the Greater Lansing area, as well as young Americans seeking affordable housing in a supportive, shared living environment," Executive Director of the Allen Neighborhood Center Joe Enerson said in a press release.
The project received $500,000 from the Housing Trust Fund. The fund is also backing the addition of 16 shelter units for individuals and families experiencing homelessness through the Holy Cross Services' New Hope Community Center.
Fox anticipates that most of these projects will be completed sometime next year.
