Mercantile Community Partners Project: The Landing at Spring Lake

MCP and Samaritas are expanding affordable housing opportunities along Michigan's lakeshore.

Building Community Through Strategic Investment in Spring Lake

Spring Lake has a new affordable housing development designed to meet the growing needs of the local community. Through strategic investment and partnership with Samaritas, Mercantile Community Partners helped bring The Landing at Spring Lake to life.

The Landing at Spring Lake, a 53-unit development led by Samaritas, provides quality housing for income-qualified families and individuals while adding much-needed housing inventory to West Michigan's lakeshore region.

Affordable Housing That Strengthens Local Economies

Mercantile Community Partners and Mercantile Bank played key roles in bringing the project to life through a $12.3 million Low-Income Housing Tax Credit (LIHTC) equity investment and $10.2 million in construction financing. The project demonstrates the power of coordinated financial solutions that work to advance the development of affordable housing options.

These modern, energy-efficient units provide durable homes that can help residents reduce utility and maintenance costs and redirect resources toward long-term financial stability. The project also supports Spring Lake’s economy through construction jobs, ongoing property management roles, and increased activity for local businesses.

How Mercantile Community Partners Navigates Complex Development Financing

Financing affordable housing often requires multiple funding sources and careful coordination. In addition to providing capital, Mercantile Community Partners focuses on disciplined underwriting, streamlined due diligence, and ongoing asset management. With years of tax credit experience and access to tools such as Federal Home Loan Bank of Indianapolis Affordable Housing Program grants, the team helps align financing structures with community development goals.

Mercantile Community Partners and Mercantile Bank work together to simplify financing for developers, offering integrated solutions such as acquisition support, predevelopment assistance, bridge financing, and construction loans. This relationship-driven approach reduces complexity and helps partners like Samaritas move projects efficiently from concept to completion.

Creating Lasting Impact Through Tax Credit Investment and Community Lending

Low-Income Housing Tax Credits are a key tool for financing developments that serve households earning below area median income. Mercantile Community Partners specializes in direct investments and proprietary fund structures that support both community outcomes and investor objectives, including Community Reinvestment Act credit.

By consistently providing capital and demonstrating expertise in complex transactions, Mercantile Community Partners helps strengthen the broader affordable housing ecosystem in Michigan. Successful projects like The Landing encourage additional investment and support continued progress on housing affordability across the region.

A Long-Term Investment in Michigan Communities

For communities like Spring Lake, local decision-making and deep regional knowledge help ensure that projects align with local priorities. Mercantile Community Partners’ engagement in community organizations and industry networks informs investment decisions and supports meaningful, long-term impact.

The Landing highlights the impact of relationship-driven development financing. Mercantile Community Partners prioritizes collaboration with local developers, tailoring solutions to meet both financial requirements and community needs.

As communities across the state continue working to address housing needs, Mercantile Community Partners remains committed to helping developers identify financing solutions that make projects possible.

Organizations interested in affordable housing development financing or Low-Income Housing Tax Credit investment opportunities can learn more at mercbank.com or connect with a member of the Mercantile Community Partners team.