LISC Detroit launches $45M fund to build affordable housing and turn renters into homeowners

Local Initiatives Support Corporation Detroit (LISC) has launched a $45 million Housing for the Future Fund, shifting strategy to prioritize single-family homes and expand homeownership opportunities. Backed by the Kresge Foundation and local financial institutions, the fund will provide low-interest loans and gap financing for affordable housing projects and accelerate efforts that address the region’s housing shortage. The initiative builds on a previous $58 million fund that supported 936 units. While a specific number of units was not announced, the new fund will back “a minimum of 15 projects” that will include single‑family homes for sale or rent.