The Gryphon Group has utilized various state and federal loan programs and low income housing tax credits in order to bring affordable housing developments to fruition. As is often the case in affordable housing, grant money is required in order to make developments feasible. The Gryphon Group has worked with several local, state and federal entities to secure AHP grants, CDBG money, vouchers, HOME Funds and DDA grants. Whether it is financing, syndicating low income housing tax credits or securing grant funds, the Gryphon Group has the knowledge and experience to structure any type of affordable housing development.
Belleview Place Apartments
The Hovey Companies developed and currently owns Belleview Place Apartments located at 121 Belleview Place Drive in Ionia, Michigan. Finished in 2006, this 97-unit affordable and market rate housing complex is financed by the Michigan State Housing Development Authority (MSHDA). In order to bring Belleview Place to fruition, a collective effort between the City of Ionia, Ionia Township, The Hovey Companies and MSHDA was required. With all parties contributing to its success, this development is truly a quality, affordable apartment community. From the all brick exterior to the market-rate quality amenity package, Belleview Place has elevated the standard of government financed housing.