FENTON, MI - Expect major changes coming to the Dauner Haus Apartments of Fenton.
The apartment complex is receiving a portion of more than $137.5 million in loans for eight affordable housing projects approved by the Michigan State Housing Development Authority (MSHDA) Board.
Dauner Haus is receiving $28 million in loans to preserve and upgrade 192 affordable housing units for seniors and families. Property improvements include repairing or replacing damaged concrete, walkways and patios, HVAC units, and privacy fencing, according to the MSHDA.
The loans will also be used to upgrade kitchens, bathrooms, and other in-unit amenities for residents.
The loan approval helps advance Gov. Gretchen Whitmer’s five-year goal of creating or rehabilitating 75,000 housing units by 2026.
“The Dauner Haus in Fenton is an existing development, so it’s just coming in to refine and reset the project,” said John Hundt, Housing Development Manager for MSHDA.
The closing of the deal is expected within 90 days, Hundt said. He added that the complex did not need any gap financing -- just permanent debt and low income housing tax credit.
The application was submitted by Continental Management, the company that owns Dauner Haus, last April.
Continental Management did not respond to request for a comment by MLive-The Flint Journal.
Chad Benson, director of MSHDA, said the program’s funding this deal are primarily targeted toward lower income households.
“Our mission is to do what we can with the resources we have to address all the housing needs throughout the state,” he said. “And we talked about the programs that are funding this deal. So some of them are rehab and some are newer units being developed.”
The Dauner Haus renovations are expected to take about 15 months.
“This is really about taking steps forward to be able to either create new housing throughout the state and to be able to create affordable housing for people who are looking to rent that have low income levels,” Benson said.
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