North Port Village

Jonathan Rose Companies purchased North Port Village in Port Huron, Michigan, in February 2025 to preserve the affordability of this 251-unit HUD project-based Section 8 community serving low-income families and seniors. The initiative included a transformative $11.5 million capital investment, substantially renovating all existing units and building systems across the 10-storey, 150-unit high-rise building and 100 townhomes.

The property’s Section 8 contract was renewed for the maximum 20-year term, ensuring that 100% of units remain affordable for at least 30 years to households earning, on average, 60% of Area Median Income (AMI), with a portion of units further restricted to 40% AMI and below.

Financing was achieved through an allocation of federal 4% Low-Income Housing Tax Credits (LIHTCs) and tax-exempt bonds issued by the Michigan State Housing Development Authority (MSHDA). Huntington Community Development Corporation served as the federal LIHTC investor, providing $11.5 million in equity and a $5.0 million equity bridge loan. Capital One Multifamily Finance originated an FHA Heavy 223(f) first mortgage of $25.5 million, cash-collateralizing the multifamily housing revenue bonds.

Resident engagement was central to the process, with on-site information sessions informing key scope decisions. With support from the Department of Planning and Community Development, the City of Port Huron granted the project a new 35-year tax abatement.
The renovation scope prioritized modernization and sustainability.

In-unit improvements included new kitchen and bathroom cabinetry, hard-surface countertops, luxury vinyl plank (LVP) flooring, energy-efficient plumbing and lighting fixtures, and new stainless-steel appliances. Townhomes received high-efficiency heating and air conditioning systems. Security and life-safety systems were upgraded throughout.

Common area enhancements featured new domestic hot water and heating boilers, a new rooftop air unit, LVP flooring, and lighting upgrades, alongside improved security and life-safety systems.

The project also now includes funding for a full-time Resident Services Coordinator to support community engagement and resident wellbeing.