Capital Gains:  A $15 million project to repurpose the Abigail Building on the former campus of the Michigan School for the Blind was recently announced by Lansing city officials.

The Harbor Springs developer will preserve the building's architectural features while adapting the historic structure into 44 units of affordable units on the city's north side. Groundbreaking is projected for next year.

According to excerpts from the article:
"Anticipated financing for the project includes low income housing tax credits and other funding from the Michigan State Housing Development Authority and a $12 million loan from the Lansing-based Great Lakes Capital Fund. Great Lakes Capital Fund now owns the site through its subsidiary, the Preservation Nonprofit Housing Corporation."



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