Guest Speaker Kevin Elsenheimer

 

Kevin Elsenheimer, executive director of the Michigan State Housing Development Authority, presented useful information, and importantly, lots of clarification on the state of affordable housing.

Mr. Elsenheimer wanted to impress upon the group that there often is a misconception of the look and quality of low-income housing, and talked about the impact of MSHDA’s programs. 

“Public housing from years ago is not the public housing today,” he said. 

Helping young people purchase their first home, providing housing for veterans, and creating quality buildings and living conditions are some highlights.

From community development block grants to Federal Historic Preservation, to tax credits and other programs, MSHDA infused over $2 billion into Michigan communities from 2012 to 2015. 

Mr. Elsenheimer went on to say that the generalizations of what low-income housing is are often incorrect. 

“It’s not the projects that we all seem to think of when we think of low-income housing. That’s over,” he said. 

MSHDA affordable housing has the same, or in some cases, better quality level as you’d find elsewhere in the home market, he said.

Examples of these buildings are at Carson Square on Garfield Avenue, and at the Grand Traverse Commons. 

Other MSHDA services include a unique mortgage program available to first-time homebuyers. MSHDA’s partnering lenders can loan them up to $7,500, interest-free, for assistance on a down payment. 

Mr. Elsenheimer said this flexible program is extraordinary, and they would like to see it utilized by more northern Michigan residents, including in Traverse City.