AFL-CIO HIT Subsidiary Building America CDE, Inc. Allocates $14.5 M in New Market Tax Credits for Su
AFL-CIO HIT Subsidiary Building America CDE, Inc. Allocates $14.5 Million in New Markets Tax Credits for Sugar Hill in Detroit, MIThe AFL-CIO Housing Investment Trust’s (HIT’s) subsidiary, Building America CDE, Inc. (Building America), allocated $14.5 million of New Markets Tax Credits (NMTC) to the $35.1 million mixed use Sugar Hill Arts District development in the Midtown area of Detroit, Michigan.
The Sugar Hill development will create an inclusive community, reinforcing urban vitality in one of Detroit’s most dynamic districts. The Sugar Hill project is part of a larger master plan revitalization effort in the Midtown neighborhood intended to increase housing stock and create a vibrant street front.
The development will further the revitalization of Midtown and help ensure that lower income households and local businesses are supported and not supplanted.Sugar Hill will offer workforce, market-rate, and affordable housing, including for previously homeless veterans. Sugar Hill’s veteran tenants will also have access to vouchers to obtain wraparound supportive services, including health care, mental health treatment and counseling to help them in the recovery process and remain housed in the community.
The development is located across the street from the John Dingell Veterans Administration Medical Center, which provides primary care and other services.
The remaining units will be marketed to artists, teachers, and professionals from the surrounding cultural district and medical campuses. New commercial space with a green pedestrian walkway will serve neighborhood patrons.