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(LANSING) – Mayor Virg Bernero, along with TWG Development, LLC (TWG), are proud to announce an exciting new housing development, Walnut Park Apartments, which will begin construction in 2017 on the former Michigan School for the Blind campus (MSB). TWG, based in Indianapolis and specializing in multi-family developments,recently secured a Low Income Housing Tax Credit (LIHTC) reservation from the Michigan State Housing Development Authority (MSHDA) for Walnut Park Apartments. This tax credit enables the development to move forward.
Walnut Park Apartments will include construction of 72 units of mixed-income family housing on the historic campus,with total development costs at approximately $12 million. “I am thrilled that TWG not only remained committed to investing in our neighborhoods, but, that they were also successful in securing the investment tax credit needed to make the development a reality,” said Mayor Bernero. “I’m also pleased that we will be working with TWG on development opportunities for two key buildings on the MSB campus— the Abigail and the old high school,” Mayor Bernero added.
TWG plans to apply to MSHDA in April for tax credits to fund a second development on the MSB campus, the Abigail Senior Apartments project. This project would include the adaptive reuse of the two remaining historic buildings, and would provide 60 units of safe, affordable Senior housing for residents 55 years and older. “We believe the redevelopment of these buildings is crucial from a community development standpoint,” said Joe Whitsett, CEO of TWG. “We support the City’s commitment to adding further vitality to the neighborhood by breathing new life into these historic buildings and the surrounding area. The construction of Walnut Park will also improve the potential outcome of the Abigail Senior application,” Whitsett added.