Adrian, MI – The Michigan State Housing Development Authority (MSHDA) Board approved funding for the emergency rehabilitation of Riverview Terrace Apartments in Adrian during its February meeting.
After serious structural issues were discovered in July of last year, the 163-unit building was condemned. Since then, MSHDA, the property owner, management company and community have worked to provide temporary housing for displaced residents and develop a plan to return the building to its intended use.
The MSHDA Board agreed to commit $6.6 million to support the completion of structural repairs and general maintenance at Riverview Terrace. The bulk of the proposal will use repurposed COVID Emergency Rental Assistance (CERA) funds, with the remaining money coming from the Housing and Community Development Fund (HCDF).
MSHDA Rental Development Director Chad Benson said it likely would have been more difficult to maintain housing for all existing residents without the recent infusion of funding into the HCDF this fiscal year. Most of the funding for the project will come from the repurposed CERA funds, which have 50% area median income (AMI) restrictions for tenants. HCDF does not have the same AMI restrictions and creates flexibility so that former residents who were temporarily displaced can have the option to return to the property.
“We believe this is the best path to correct the situation, and a lot of good work has been done to create an outcome that will be in the best interest of the residents,” Benson said. “In addition to the structural repairs, the work will include other maintenance such as painting and new carpeting, before residents can move back into the building they called home.”
Benson said once the work starts the repairs are projected to be complete in about eight months.
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