Ryan Clark, Senior Vice President of Development says, “With waitlists of over two years at other nearby affordable housing communities, Union at A2 will provide not only one of the largest affordable housing communities in Ann Arbor in over 45 years, but a new modern development for 250 households to call home.”<\/p>\n<\/blockquote>\n Union at A2 will feature a community center, bike storage, fitness center, on-site leasing office, outdoor picnic and grilling area, and a playground. The community’s location was planned with future residents in mind. It is in close proximity to dining, retail options, a pharmacy and schools. It is also conveniently located next to the public bus system.<\/p>\n Partners on the project include: BKV Group<\/a>, Midwestern Consulting<\/a>, the City of Ann Arbor<\/a>, Michigan State Housing Development Authority <\/a>(MSHDA), which provided $35 million in permanent mortgage dollars, $15 million of soft debt, Grow America<\/a>, which provided $22.5 in LIHTC equity, and Ann Arbor Housing Commission,<\/a> which provided $3 million of soft debt.<\/p>\n “In keeping with our history of being the first and most dedicated community and economic development nonprofit, Grow America is thrilled to be part of another long term investment in high quality, affordable housing that will benefit the state of Michigan and the City of Ann Arbor,” said James Poznik, Director of Acquisitions and Underwriting for Grow America. “We would also like to congratulate the dedicated development team at The Annex Group as well as the MSHDA finance team and the City of Ann Arbor for all their hard work bringing Union at A2 to reality.”<\/p>\n<\/blockquote>\n “Developing affordable housing requires all hands on deck,” said Jennifer Hall, Executive Director of Ann Arbor Housing Commission. “I am thrilled to work with the Annex Group, a developer doing the hard work of utilizing complicated low income housing tax credits and MSHDA funds to finance 250 apartments for households in Ann Arbor. Providing a $3 million loan is a great use of local funding to ensure that the project gets built.”<\/p>\n<\/blockquote>\n The community is expected to open in fall 2026. This is The Annex Group’s third community in Michigan. Union at Oak Grove<\/a>, another affordable housing community, is currently leasing with an open house and ribbon cutting planned for next year. The Annex of Battle Creek<\/a> is a student housing community the company renovated in 2016.<\/p>\n To learn more about The Annex Group, visit www.theannexgrp.com<\/a>. INDIANAPOLIS (October 29, 2024) – The Annex Group®, a leading impact housing developer that creates affordable, workforce, student, active adult and market-rate housing communities, today announces groundbreaking plans for a new affordable housing community in Ann Arbor, Michigan. Union at A2 will offer 250 units including one, two and three bedroom apartment homes available to… <\/p>\n![\"\"](\"https:\/\/cdngeneralcf.rentcafe.com\/\/dmslivecafe\/UploadedImages\/c7601bea-53f2-4fb6-af1a-a5bcc1c85ed8.jpg\")
\nINDIANAPOLIS (October 29, 2024) – The Annex Group<\/a><\/strong>®<\/a>, a leading impact housing developer that creates affordable, workforce, student, active adult and market-rate housing communities, today announces groundbreaking plans for a new affordable housing community in Ann Arbor, Michigan. Union at A2 will offer 250 units including one, two and three bedroom apartment homes available to households whose income level is at or below 70 percent of the area median income (AMI). The $82 million community will be located at 2050 Commerce Blvd., 48103.<\/p>\n\n
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\nABOUT THE ANNEX GROUP® <\/a>The Annex Group® is a leading impact housing developer that creates workforce, affordable and student housing communities. With a focus on providing innovative, amenitized housing in emerging markets throughout the United States, The Annex Group is headquartered in Indianapolis, Indiana. To learn more about The Annex Group, visit www.theannexgrp.com or follow them on Facebook and LinkedIn.<\/p>\n","protected":false},"excerpt":{"rendered":"
{"id":541,"date":"2024-10-30T12:35:00","date_gmt":"2024-10-30T12:35:00","guid":{"rendered":"https:\/\/www.theannexgrp.com\/blog\/2024\/10\/30\/the-annex-group-breaks-ground-on-union-at-a2-a-new-affordable-housing-community-in-michigan\/"},"modified":"2024-10-30T12:46:09","modified_gmt":"2024-10-30T12:46:09","slug":"the-annex-group174-breaks-ground-on-union-at-a2-a-new-affordable-housing-community-in-michigan","status":"publish","type":"post","link":"https:\/\/www.theannexgrp.com\/blog\/2024\/10\/30\/the-annex-group174-breaks-ground-on-union-at-a2-a-new-affordable-housing-community-in-michigan\/","title":{"rendered":"THE ANNEX GROUP\u00ae BREAKS GROUND ON UNION AT A2, A NEW AFFORDABLE HOUSING COMMUNITY IN ANN ARBOR, MICHIGAN"},"content":{"rendered":"