WEBBERVILLE – Cinnaire (Cinnaire) recently invested $1.7 million to rehabilitate Kalamink Creek in Webberville.
Kalamink Creek Apartments will provide 24 for working families. Through construction and recurring costs of operation, Kalamink Creek is projected to add 36 jobs to the Webberville and the surrounding region.
Additionally, the $1.7 million investment of Housing Credit equity will add $304,320 to local taxes and revenue, and $2,472,000 to local incomes – first-year and recurring costs combined, according to statistics from the National Home Builders Association and the Historic Tax Credit Coalition.
“Affordable housing in America’s rural areas is critical to our economic comeback – especially in places like Michigan,” Cinnaire President and CEO, Mark McDaniel, stated. “Great Lakes is a proud partner in this project, which will enhance the lives of all Webberville community members, by providing a safe, healthy and sustainable place for people to live and thrive.”
The development team for this exciting project includes: TJ Development LLC, project developer; Watermark Construction, LLC, general contractor; ARRC Associates, Inc., project architect; KMG Prestige, property management; McCartney & Company, accountant; and Mallory, Lapka, Scott & Selin PLLC, developer’s counsel.