Late September, Cinnaire, Genesis Non Profit Housing Corporation, development partners and new residents celebrate the grand opening of Genesis Woods Apartments special needs housing.
Genesis Woods Apartments provides 33 apartment homes for people who are formerly homeless, have special needs, and/or who are physically disabled. All the apartments are fully leased. Click here to see photos from the Grand Opening Ceremony.
Pine Rest Christian Mental Health Services has staff on site that provide and coordinate support services. Case Management agencies funded by Network 180 also provide support services for Genesis Woods residents.
Additionally, the supportive housing development represents $6.2 million in total economic impact to the Grandville area; and through direct and indirect contributions in construction, operations and resident spending, it is estimated that over 76 jobs were retained and/or created within the local economy (according to statistics from the National Multifamily Housing Council and National Apartment Association).
Cinnaire (Cinnaire) provided $4.8 million in equity from federal Housing Tax Credits to help finance Genesis Woods.
“Cinnaire is proud to once again partner with Genesis Non Profit Housing and deliver quality housing that uplifts the lives of people living inside the development, and also the community surrounding it,” President and CEO, Mark McDaniel said. “When society’s most vulnerable populations have a safe and supportive place to call home, we all win.”
“We have established an excellent model to serve and enhance the lives of special populations,” Executive Director for Genesis Non Profit Housing Corporation, John Wynbeek said. “We are excited that the hard work of so many partners has finally paid off, and are extremely grateful for all of the support Genesis Woods has received – from the federal, state, city and county offices – our elected officials and public servants have been there.”
The total development cost for Genesis Woods is just over $6.3 million. The financing partners for Genesis include Chemical Bank, who provided the construction loan; Michigan State Housing and Development Authority (MSHDA), who allocated the $4.8 million in federal Housing Tax Credits, a permanent mortgage, and HOME funds; Kent County, who provided additional HOME funds and Cinnaire.
“As a community bank, Chemical Bank is dedicated to serving the needs in our West Michigan community. That’s why we’re so excited to be a partner on the Genesis Woods project, “said Chemical Bank Regional President Joel Rahn. “We’re thrilled to see how Genesis worked to fill such a vital need of the residents of Grandville.”
The development team for this exciting project includes developer and sponsor Genesis Non Profit Housing Corporation; general contractor, Rockford Construction; Destigter Architecture and Planning; and property management company Dwelling Place of Grand Rapids, Inc.
The quality apartment homes are not only aesthetically pleasing, Genesis Woods is also anticipating LEED Gold Green Building certification. These building standards allow for more energy consumption and limited utility expenses on site.
