Mercantile Community Partners Reaches 500 Affordable Housing Units Financed Across Michigan

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Mercantile Bank Corporation subsidiary marks major milestone in supporting affordable housing development through tax credit equity investments. Key Takeaways GRAND RAPIDS, Mich., July 14, 2026 /PRNewswire/ -- Mercantile Community Partners (MCP), a wholly owned subsidiary of Mercantile Bank Corporation, has reached a significant milestone in its mission to strengthen communities across Michigan, surpassing 500 affordable housing units financed  through Low-Income Housing Tax Credit (LIHTC) equity investments since the organization's founding in 2023. The milestone was achieved through MCP's investment in Flats on Bridge , a new affordable housing development in Elk Rapids, Michigan. The project will create 24 affordable housing units and represents a $6.6 million investment by MCP, along with $5.7 million in construction financing from Mercantile Bank. Mercantile Bank also sponsored the project's Federal Home Loan Bank of Indianapolis Affordable Housing Program award application. In just three years, MCP has committed more than $131 million in equity investments  supporting affordable housing and community development projects across 24 Michigan counties . "As communities across Michigan continue to face housing challenges, reaching 500 affordable housing units financed is a meaningful milestone for our team," said Emily Cauzillo, Director of Mercantile Community Partners . "Every project represents individuals and families who need access to quality, attainable housing, and we're honored to work alongside developers, investors and community partners to help bring these developments to life. The Flats on Bridge project is a great example of how collaboration can create lasting impact for a community." Established in 2023, MCP was created to expand investment in affordable housing and economic development projects throughout Michigan. The organization specializes in equity investments through Low-Income Housing Tax Credits and Historic Tax Credits, offering both direct and proprietary fund investment options. MCP's team works with developers and investor partners to structure financing solutions that leverage a variety of tools and incentives, providing a streamlined and customized approach to community development investment.

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