Jefferson Street Square

Jefferson Street Square is a 62-unit senior development located in Mason, Michigan. The building formerly served as Mason High School prior to its conversion to senior citizen housing in 1986. The three-story brick building consists of 6 efficiency units, 44 one-bedroom units, and 12 two-bedroom units.

Target Population

Twenty-one units are available to senior households at 35% of the area median income (AMI); 30 units will be available to senior households at 50% of the AMI; 2 units will be available to senior households at 60% of the AMI; and 7 units will be offered at market rate.

Location

Jefferson Street Square is located in the City of Mason, south of the main retail and business center of the downtown community on South Jefferson Street. Although very close to the center of town, the area surrounding the project is quiet and residential in nature. North of the site are numerous retail and business establishments. Single-family homes are located east and south of the site, and to the west are additional single-family homes, City Hall and Mason's fire department. Mason Community Health Center, an urgent care facility, is located approximately two miles from Jefferson Street Square. In addition, Mason is served by two private ambulance services and 911 is available to residents.

Sources and Amounts Of Equity

General Partner Capital Contribution: $55,000
Michigan Capital Fund for Housing Limited Partnership VII: $1,073,067
MSHDA Assumption: $1,310,859
HOME Funds: $807,909

Total Development Cost: $3,246,835

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