Michigan-Based Development Firm Acquires Affordable Housing Portfolio

The Michigan minority- and woman-owned development firm, Ginosko Development Company, along with New York-based L+M Development Partners, has secured a nine-property portfolio in Michigan that includes 1,640 units.  One of the portfolio’s properties includes Coventry Woods, a West Michigan senior apartment complex. The rest of the portfolio properties are in Detroit, Saginaw, Pontiac, Canton, Center Line and Monroe. Over half the units are for seniors. Seven of the nine properties have Department of Housing and Urban Development Section 8 contracts, and two are restricted to households at or below 60% area median income.