Vibrant new apartment community provides affordable housing to seniors
Cinnaire recently joined DeShano Companies, Inc., the development team and community leaders to celebrate the grand opening of River View Place Apartments. The development of River View Place was made possible by the Michigan State Housing Development Authority (MSHDA) tax credit program for affordable multi-family development and assistance from the City of St. Louis, the Downtown Development Authority, Cinnaire and Chemical Bank. Cinnaire provided a $2.9M Low Income Housing Tax Credit (LIHTC) equity investment to support the project.
Developed by the DeShano Development Corporation, River View Place provides 24-units of new, affordable housing to seniors living in St. Louis, MI. The 4-story building, which includes 10 one-bedroom and 14 two-bedroom apartments, will be managed by GLD Management Company. Project amenities include a community room, activities and fitness center. Each apartment is equipped with brand new appliances, central air, washer/dryer, and a patio/balcony. River View Place is located northwest of Mill Street and North Street, providing residents with beautiful views of the nearby Pine River.
“Rural communities often suffer from a lack of high-quality affordable housing,” said Mark McDaniel, Cinnaire President & CEO. “River View Place ensures seniors living in Michigan’s Middle of the Mitten will have access to safe and affordable housing for years to come. Cinnaire applauds the DeShano Companies, the city and project partners for their commitment in providing seniors in St. Louis with this affordable, vibrant community to call home.”
“The government has the ability and power to enhance, or diminish in some cases, the quality f life for its citizens,” mentioned Gary DeShano, President of DeShano Development Corporation. “This is a great example of enhancement. River View Place not only helps the residents, but boosts the entire historical downtown of St. Louis.”
Staff from Congressman John Moolenar’s office attended the event and presented Gary DeShano with a Special Certificate of Congressional Recognition.