To inquire about applying, please contact Brandon Ivory via email (bivory@lisc.org) or phone (313.265.2890).

 
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Detroit Housing

for the Future Fund

Investing in quality affordable housing for Detroiters

 

What is Detroit Housing for the Future Fund?

The Detroit Housing for the Future Fund (DHFF) is a new fund comprised of private investment that will be invested into affordable housing development and preservation in Detroit.  The DHFF is managed by Local Initiatives Support Corporation (LISC) and was created in partnership with the City of Detroit as part of the Affordable Housing Leverage Fund (AHLF) initiative.  The DHFF is designed to deploy private grant and low interest loan capital to complement and leverage public investment through the City of Detroit and Michigan State Housing Development Authority as well as tax credits and other existing affordable housing finance tools. 

DHFF encourages:

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the development of new mixed-income and affordable housing in targeted multifamily housing areas

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the preservation of regulated and naturally occurring affordable housing throughout the City of Detroit

A collaboration between

 
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City of Detroit Housing & Revitalization Department (HRD)
 

 Goals of Detroit Affordable Housing Leverage Fund

 

Preserve Affordable Housing

The initiative will advance the City of Detroit’s goal of preserving 10,000 units of affordable housing by 2023.

Develop Affordable Housing

The initiative will advance the City of Detroit’s goal of developing 2,000 new units of affordable housing by 2023.

Housing affordable at or below 60% AMI

AHLF will focus investment on housing that is affordable to households at or below 60% Area Median Income , with priority given to projects with deeper income targeting.

 

How to Apply

Stage 1: Pre-Application
Stage 2: Application
Stage 3: Threshold Review & Scoring
Stage 4: Intake and Project Review
Stage 5: Intake & Project Review
Stage 6: Closing & Monitoring

To inquire about applying, please contact Brandon Ivory via email (bivory@lisc.org) or phone (313.265.2890).

 

RELEASE AND PERMISSION TO SHARE DEVELOPER CONTACT & PROJECT DETAILS

Applicant gives permission for Detroit Housing for the Future Fund (DHFF) and LISC Fund Management (LFM) to share applicant contact information and project details with investors and partners of DHFF. This excludes publication and/or marketing use of such details.

 

Our Offerings

Recoverable Grants & Grants

Capital Needs Assessment Recoverable Grant Program

Developers of Color (DOC) Matching Grant Award

 

Loans

Low Interest Subordinate Mini-Perm Loan

Low Interest Preservation Acquisition Mini-Perm Loan

 

Preferred Equity

Preferred Equity Product

 

Contact Us

Brandon Ivory, DHFF, Loan Officer

bivory@lisc.org | (313) 265-2890