Celebrating the Financial Closing of Riverview Towers in Riverview, Michigan
Congratulations go out to CSI Support & Development Services on the financial closing of Riverview Towers in Riverview, Michigan! This project will preserve 171 homes for seniors, all of which are available with Project Based Section 8 subsidy. Upgraded common areas and unit interiors are only part of what’s to come for the residents! CSI will provide services to all residents with the use of a cooperative management model, where residents will actively participate in the planning and coordinating of events. Meals on Wheels will provide nutritious meals for residents, the Sundry Shop will be available for toiletries and nonperishables, and an on-site van is available for resident transportation. Riverview Towers is in excellent proximity to community services, a grocery store and pharmacy.
The Michigan State Housing Development Authority will provide $12.5 million of Construction financing. Permanent financing includes an additional $11.6 million from MSHDA. Enterprise is thrilled to provide $5.8 million of equity toward this project!