Samaritas Wins $600K Grant Through Mercantile Bank for Grand Rapids Housing Renovation

GRAND RAPIDS, Mich. – Samaritas, one of Michigan’s largest health and human service agencies, is getting a boost of support from Mercantile Bank with a new $600,000 grant to renovate Allen Manor, a Samaritas-managed Affordable Living property in Grand Rapids. This is the third successful Samaritas-Mercantile Affordable Housing Program (AHP) collaboration to obtain a Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) grant. As a FHLBank Indianapolis member, Mercantile submitted the Samaritas grant application for consideration and donated $10,000 to help boost its score for the grant selection process.

“Our country is facing an affordable housing crisis, and we’re actively contributing to help find solutions. Projects aimed at providing seniors with a comfortable place to thrive are important initiatives that are an extension of Mercantile’s community-focused culture,” said Sonali Allen, Chief Compliance and Community Development Officer of Mercantile Bank. “We applaud Samaritas for extending those opportunities throughout Michigan and are proud of our collaborations with them.”

The $600,000 grant will help fund the $775,000 renovation project to make the Samaritas managed Affordable Living property more comfortable for its current residents. Proposed renovations for the 24-unit subsidized housing community for those 62+, include upgrades for resident kitchens, bathrooms, flooring and other in-unit modernization plans. Common areas will also get new flooring and lighting. Plus, the outdoor gathering space will be expanded and will include new a new shaded space for residents to enjoy. Pinnacle Construction will serve as the contractor for this renovation which is scheduled to start the summer of 2024. Mercantile will also provide construction bridge lending to support this project.

“I am very gratified that our facility has been awarded a grant for renovating our units,” said Brian Inman, Allen Manor Senior Housing Board Chairman. “We believe that our residents should have a modern, comfortable, and affordable dwelling to call home. The coming renovations will make a good housing facility even better.”

In 2022, with the help of Mercantile Bank, Samaritas received a $500,000 FHLBank Indianapolis award to renovate the Samaritas Affordable Living property in Alpena, that serves residents 62+. That investment reduced the $750,000 renovation cost for the 62-unit community. A second $460,000 award in 2022 helped Samaritas construct a modern and stylish upscale community near the Downtown Muskegon Social District for seniors 55+.

“Samaritas is leading the way in providing affordable housing for some of Michigan’s most vulnerable people. The new renovation of older properties reinforces our belief that everyone deserves a great place to live regardless of age, income, or socioeconomic status,” said Joel Lautenbach, Executive Director, Samaritas Affordable Living. “Samaritas owns or manages approximately 1,000 affordable apartments across lower Michigan and has plans of doubling that number in the future.”

Find out more about this and the other 16 Samaritas Affordable Living properties at samaritas.org/affordableliving.

About Mercantile Bank
Mercantile Bank is a wholly-owned subsidiary of Mercantile Bank Corporation. Mercantile Bank provides banking services to businesses, individuals and governmental units, and differentiates itself on the basis of service quality and the expertise of its banking staff. Mercantile Bank has assets of approximately $5.4 billion and operates 43 banking offices. For more information about Mercantile Bank, visit www.mercbank.com, follow us on Facebook, Instagram and Twitter @MercBank and on LinkedIn @mercantile-bank-of-michigan.

About Samaritas 
For nearly 90 years, Samaritas has grown to serve and transform the lives of nearly 33,000 individuals each year through 60 program sites across the entire lower peninsula of Michigan. Our skilled team of professionals provides essential, life-changing services to some of the most vulnerable Michiganders, including people living with substance use disorder, refugee families and youth looking for peace and opportunity, kids in the foster care system needing safety and stability, children with a goal of being adopted and finding their forever family, and those in need of affordable housing. For more information on Samaritas, visit Samaritas.org.

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