New Kalamazoo Apartments Offer Rents Below Market Rate
Eligible households in Kalamazoo can now access new two-bedroom apartments for $1,299 monthly, saving on average market rent.
Updated on Oct. 28, 2026 in Apartments
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Developers have finished construction on The River's Edge, a $56 million apartment complex in Kalamazoo. The new development provides 228 units, with the majority designated for households at or below 60% of the area median income.
Why it matters
The project offers a significant cost advantage for qualified renters, as units are priced below standard market rates for the area. This development addresses housing access by aligning rents with specific income eligibility tiers.
The River's Edge offers two-bedroom units for $1,299 per month, a substantial discount compared to the $2,200 average market-rate rent for similar units in the city. The complex reserves 184 units for households at or below 60% of area median income and 44 units at 120%.
The players
Standard Communities
A private development firm that partners on large-scale housing projects.
River Caddis Communities
A real estate development company focusing on residential projects.
Michigan State Housing Development Authority
A state agency that provides financing and support for affordable housing initiatives.
The details
The River's Edge occupies a 7.4-acre site in Kalamazoo, featuring three buildings and amenities such as a fitness center, playground, and clubhouse. Rent levels are set according to income eligibility, with 184 units serving those at or below 60% of area median income and 44 units available for households up to 120% of the median. This project was facilitated through a public-private partnership between private developers and local government housing authorities to manage project costs and affordability requirements.
Timeline
Groundbreaking for the apartment complex occurred in the fall of 2024.
Construction on the project was completed in October 2026.
Money Landscape
This project follows the structure established by the Low-Income Housing Tax Credit program, which incentivizes developers to build housing with income-restricted rent tiers. It represents a targeted effort to expand local housing supply during a period of high rental costs.
Households earning at or below 60% or 120% of the area median income may find lower monthly housing costs at this new development compared to market-rate units. Prospective renters should consult with a housing professional to determine their eligibility for these income-restricted tiers.
The takeaway
The River's Edge brings 228 new units to the market with pricing tiers based on income levels. Residents looking for affordable options should verify their income status against the 60% and 120% area median income benchmarks before inquiring about unit availability.
Further reading
For more information on the local rental market, see Apartments.
Source note: This article includes information reported by Mlive.
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Do you believe new government-backed apartment developments are the best way to improve local housing affordability?
