YPSILANTI, Mich., June 4, 2025 /PRNewswire/ — Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, hosted a grand opening ceremony last week for Huron Vista and the Residences at Huron, LAC’s first ground-up construction developments in the state of Michigan. LAC was joined at the event by community leaders and local officials including Ypsilanti Mayor Nicole Brown.
“We are excited to celebrate the opening of Huron Vista and Residences at Huron in Ypsilanti, which will provide hundreds of Michigan families and seniors with safe, high-quality, affordable housing,” said Kyle Brasser, LAC Vice President and Regional Project Partner. “LAC is proud to work with our local partners to address the pressing need for affordable units here in Washtenaw County.”
Huron Vista and the Residences at Huron provide 156 units of affordable family housing and 152 units of affordable senior housing, respectively. Units are being leased to those earning between 40-60% of the area-media-income (AMI). Both properties include amenities such as outdoor gathering spaces, pools, and fitness centers. Additionally, Huron Vista features a clubhouse building with a community room and children’s play area, while the Residences at Huron adds a pickleball court, club room, and underground parking.
The developments were financed through tax-exempt bonds and 4% tax credits from the Michigan State Housing Development Authority (MSHDA); a PILOT from the City of Ypsilanti; an equity investment from KeyBank Community Development Corporation; a construction loan from KeyBank; and a permanent loan from Freddie Mac, serviced by KeyBank.
About LAC: Lincoln Avenue Communities (LAC) is one of the nation’s fastest-growing developers, investors, and operators of affordable and workforce housing, providing high-quality, sustainable homes for lower- and moderate-income individuals, seniors, and families nationwide. LAC is a mission-driven organization with a presence in 28 states and a portfolio of 170+ properties comprising 30,500+ units housing 80,000+ residents.
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SOURCE Lincoln Avenue Communities
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