What We Do
Preserving Affordable Units through Acquisition
Across the state of Michigan, there exists a variety of affordable properties that received public subsidies that need stabilization and assistance. Without the intervention of an organization such as GLHS, this affordable housing will likely be lost and replaced by market rate units.
One of GLHS's goals is to preserve affordable units, especially those publicly funded by MSHDA. Through acquisition, GLHS can spur and support the recapitalization and functional management of these troubled properties, preserving the affordability of these units and finding a long-term owner committed to proper maintenance of the building and its affordability.
In October of 2024, GLHS acquired a redeveloped mixed-use building in Pontiac, MI, that includes affordable residential units. The project was experiencing financial instability and needed to incorporate best management practices. GLHS is providing necessary investment in the building and its maintenance, improving tenant relationships, and creating a sustainable financial model. Once improvements are made and the affordability of the units is secured, the building will effectively be reintroduced to the market to benefit the community.
Please email info@greatlakeshousing.org with any questions about GLHS's preservation efforts.