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MSHDA ANNOUNCES $7 MILLION IN LOAN
FOR ELDERLY HOUSING IN OAKLAND COUNTY
Office of Communications 517-373-0011Agency:
State Housing Development Authority
October 27, 2003
The Michigan State Housing
Development Authority (MSHDA) today announced that 126 units of elderly rental
housing will be renovated in Rochester Hills with the help of a $6,956,014 mortgage
"MSHDA remains committed to helping residents throughout Michigan achieve
affordable rental housing," MSHDA acting executive director Rick L. Laber
said. "This development is an example of how the Authority is working
to increase the supply of affordable apartments that have rent levels within
reach of our state's elderly and low to moderate- income families."
Cliffview Apartments, with 126 units of elderly housing, is located at 1691
Cliffview Drive just west of Rochester Road in the city of Rochester Hills.
It consists of 102 one-bedroom and 24 two-bedroom apartments in 10 buildings.
Improvements to the apartments will include replacing carpet and floor tile,
paint, cabinetry, countertops, kitchen appliances, tubs, bathroom sinks and
vanities, and air conditioning units as needed. All units will receive new toilets,
peepholes, microwaves, dishwashers and smoke detectors.
All of the common corridors and building entries will be redone, including replacing
carpeting, hallway lighting, door hardware, mini blinds, and paint. Common laundry
equipment will be replaced as needed. The buildings will be re-sided, sidewalks
will be repaired, landscaping will be upgraded, and a garden will be added.
Cliffview will be financed under the Section 236 Preservation Program, which
provides for prepayment of an existing mortgage and issuance of a new mortgage
to maintain the development as moderate income housing.
Almost all of the units will be made available to residents at or below 60 percent
of area median.
The rehabilitation is scheduled for completion by December 2004.