Michigan Community Capital Secures $12 Million in Funding for Low-Income and Attainable Housing Development

Michigan Community Capital (MCC) is thrilled to announce a significant milestone in its mission to foster economic growth and enhance community development across the state of Michigan. The organization has successfully raised $12 million to further its initiatives in supporting low-income and attainable housing and revitalizing brownfield sites. As a certified Community Development Financial Institution (CDFI) and the sole Community Development Entity (CDE) providing resources statewide, MCC has been steadfast in its commitment to driving meaningful change in underserved areas. With over 16 years of experience, MCC has played a pivotal role in financing projects that have collectively exceeded $1 billion, leveraging $380 million in federal New Markets Tax Credits to enhance the quality of life for Michigan residents. This new funding will bolster MCC’s existing efforts to create and rehabilitate over 1,400 housing units alongside 3 million square feet of commercial, retail, and industrial spaces that actively contribute to job creation and economic expansion. The raised funds will be channeled into MCC’s four key pillars—housing equity, bridge and gap lending, New Markets Tax Credits, and property insurance for Low-Income Housing Tax Credit projects—ensuring a comprehensive approach to community development that leaves no one behind. As MCC continues to strive towards a more equitable and prosperous future for all Michiganders, this funding marks a crucial step forward in overcoming the challenges faced by low-income communities. For more information on MCC and its groundbreaking initiatives, visit michigancommunitycapital.org.