Harbor Towers and Buss Avenue rehab
Michigan State Housing Development AuthorityMichigan- Detected
- Jul 16, 2026
- 114 days ago
- Sector
- Capital Projects
- Est. value
- Free account
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THE 30-SECOND BRIEF
MSHDA is authorizing a tax-exempt loan commitment and issuance of up to $22.99 million in bonds/notes for the Harbor Towers and Buss Avenue Apartments in Benton Harbor. The $49.1 million project will acquire and substantially rehabilitate 173 units, with Fifth Third Bank providing construction-phase credit enhancement and Freddie Mac-backed private placement in permanent phase. Core financing and sponsors are locked in, but there will be significant ongoing needs for construction trades, accessibility upgrades, resident relocation, compliance monitoring, and services tied to RAD/PBV operations.
Project uses RAD with PBV HAP contract; includes waiver to Freddie Mac transfer restrictions; 20 permanent and 120 temporary jobs projected.
From the meeting
- Meeting date
- July 16, 2026
- Agency
- Michigan State Housing Development Authority
Questions about this project
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