Avalon Housing - The Grove at Veridian

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The Grove at Veridian

2260 Platt Road, Ann Arbor, MI

50 Total Units

14 one-bedroom; 10 two-bedroom; 21 three-bedroom; 5 four-bedroom units
30 Total Project-Based Vouchers
With vouchers, tenant rent is 30% of income
Remaining rents set under 35% of Area Median Income

Funding Sources

MSHDA Low Income Housing Tax Credits (Limited Partner: National Equity Fund) - $ 13,379,912
Washtenaw County HOME - $ 1,925,000
City of Ann Arbor Housing Millage - $ 1,900,000
Federal Home Loan Bank AHP (Sponsored by Old National Bank) - $ 500,000
State Enhancement Grant - $ 250,000
Dave and Louise Lutton Fund at AAACF - $ 50,000
General Partner Equity - $ 6,900
Cedar Rapids Bank & Trust Perm Loan - $ 2,810,000
Construction Loan through Huntington National Bank

TOTAL: $20,821,812

Additional Funding

Supportive Housing Services Funding through the Ann Arbor Affordable Housing Millage
Predevelopment funding: Corporation for Supportive Housing and MSHDA
PILOT through the City of Ann Arbor
Ann Arbor Housing Commission vouchers (30)

Design Goals and Highlights

All ground floor units (34) are visitable (no step entries, wide entry doors and halls)
15% of units (8) are fully barrier-free
All-electric. Achieving National Green Building Standards and Enterprise Green Certification
Wireless internet provided
On-site Community Center and playground

Learn more about Avalon Housing.