Melvindale SquarE •Perry Square
Cherry HilL • Robert J. Thomas Terrace
Our commitment to provide quality affordable housing to communities in Western Wayne County began in 1995 with our first 9% LIHTC award for Norris Apartments located in Westland, Michigan. This 60-unit property is currently past the fifteen-year compliance period and we recently purchased the LP interest and completed a HUD refinance to provide long term permanent debt. This project began a long-term relationship between Shelborne and Western Wayne County. In 2005, we purchased Cherry Hill Square in the City of Inkster, which was a foreclosed 185-unit HUD 202 development and completed a gut rehabilitation converting it to 120, 1-bedroom suites for seniors. Newberry lofts was also completed in 2006 in Wayne, Michigan providing 12 units of affordable loft style apartments
Our next challenge was to provide affordable housing in the City of Melvindale, in 2007 when investment dollars were difficult to attract with the equity market at its weakest point We were able to secure equity and closed on Perry Square one of the few LIHTC projects in Michigan to begin in 2008. This 100% affordable development along with Melvindale Square, which is 66 units of market rate housing, are conveniently located in a major thoroughfare with easy access to public transportation and retail services.