Lakewood Place Apartments

Bringing First New Affordable Housing to the “Missing Middle” in Holland

Lakewood Place Apartments – Holland Charter Township, Michigan

Lakewood Place Apartment Village is a new, workforce housing development, designed to meet the growing demand for affordable housing in Holland Charter Township. It is the first affordable housing project in city of Holland, led by a joint venture between Geerlings Development and KJK Real Estate Management. This initiative aligns with Housing Next of Ottawa County, a nonprofit dedicated to connecting local governments, developers, and employers to address the region’s workforce and housing challenges.

By integrating federal and local funding resources, this project delivers 152 affordable units for households earning 50%, 60%, and 70% of the area median income (AMI) while also offering 38 market-rate units to create a balanced, sustainable housing community.

Spread across 24 acres, the development consists of seven two- and three-story residential buildings and features 10,000 square feet of commercial space, ensuring long-term economic and community benefits.

This project underscores the critical role of federal housing programs including Housing Credit and HOME funds in ensuring long-term affordability, strengthening local economies, and supporting hardworking families in Michigan.

Funding Highlights

  • Total Development Cost: $42 million
  • Low-Income Housing Tax Credit (Housing Credit): $14 million
  • MSHDA HOME Loan: $1.9 million
  • MSHDA (HUD) TCAP: $6.1 million
  • MSHDA Housing Trust Fund (PA5): $2 million

Project Highlights

  • 190 mixed-income housing units to support working families in Ottawa County
  • First new affordable multi-family housing project in the City of Holland
  • Supports local workforce stability, helping employers attract and retain employees
  • Residents save approximately $6,500/yr in rental housing costs
  • Construction completion and occupancy – June 2026

Scroll to Top