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Council approves NEZ for Auburn Place affordable housing at 454 Auburn Avenue
Summary
Pontiac council approved a Neighborhood Enterprise Zone for a new-construction, 55-unit affordable housing project by Lighthouse on Auburn Avenue, noting the project's reliance on tax-exemption and other financing to proceed.
The Pontiac City Council on Jan. 21 approved a Neighborhood Enterprise Zone application from Lighthouse to support new-construction affordable housing at 454 Auburn Avenue. The NEZ will apply to the new-construction portion of Beacon Square/Auburn Place and is one piece in a capital stack that includes housing tax increment financing and federal or state sources.
Project and location: The Lighthouse project is planned…
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