Sparta, Mich.-based ChoiceOne Financial Services and subsidiary ChoiceOne Bank are investing $1 million to support the development of affordable housing in partnership with nonprofit financial partner Cinnaire and the MBA Service Corp. 2025 Michigan Community Fund.
Of the donation, $500,000 will support supportive housing complex Beacon Place while another $500,000 will go toward townhome community Settlers Pointe.
A Pontiac-based organization, Beacon Place is undertaking a 40-unit acquisition rehab. Of those, 24 subsidized units are supported by Section 8 vouchers. The project developer, Lighthouse, and Detroit metro nonprofit Community Housing Network, will have Permanent Supportive Housing services, including low-barrier admissions and voluntary supportive services.
Settlers Pointe is preserving 96 townhome-style units, including 86 affordable homes for families. The vast majority of units are for households at 30 percent to 60 percent area medium income.
“ChoiceOne has always been an advocate for investing in our communities, a key driver of economic mobility and family stability in Michigan,” said Kelly Potes, CEO of the $4 billion bank. “… These apartments and townhomes will offer more opportunities for individuals and families to live and work in our communities, keeping neighborhoods varied and vibrant.”