Top 10 Finalist for the 2025 Ivory Prize for Housing Affordability
April 29, 2025
City of Muskegon Named a Top 10 Finalist for the 2025 Ivory Prize for Housing Affordability
Muskegon, MI – The City of Muskegon is proud to announce its selection as a Top 10 finalist for the 2025 Ivory Prize for Housing Affordability. This prestigious national award recognizes innovative, feasible, and scalable solutions aimed at addressing the critical issue of housing affordability. The city is honored to join this distinguished group of finalists who are driving meaningful change in the housing sector at a time when affordability-advancing solutions are more urgently needed than ever.
“Muskegon is proving that small cities can be leaders in housing innovation,” said Jake Eckholm, Director of the Development Services Division. “Our team has been creative and committed in addressing the housing needs of our community, and this recognition validates the work we’ve done to leverage tools like Brownfield TIF to create new opportunities for homeownership.”
The City’s program uses Brownfield tax increment financing (TIF) as a tool to finance and develop new affordable housing. It utilizes tax capture from market-rate infill housing to subsidize the construction of owner-occupied homes for low to moderate-income buyers. This forward-thinking policy approach helps transform vacant lots into high-quality, attainable housing while promoting neighborhood revitalization and long-term community investment.
Winners for this year’s Ivory Prize will be announced on May 20, 2025. In addition to industry recognition and access to a range of benefits designed to maximize their impact, winners receive a total of $300,000, which is awarded across three areas of focus: Construction & Design, Finance, and Policy & Regulatory Reform. Watch the City of Muskegon Ivory Prize 2025 Entry Video here.
Learn more about the Ivory Prize Competition here: https://www.ivoryinnovations.org/ivory-prize
Top 10 Information here: https://www.ivoryinnovations.org/ivory-prize-2025-top-10
About the City of Muskegon’s Development Services Division: The City of Muskegon is leading efforts to expand housing access through innovative zoning reforms, targeted infill development, and strategic use of tax incentives. Since 2019, the city has delivered over 200 new homes and reached 51% of its 5-year housing goal by the end of 2024. Ongoing projects include market-rate and affordable housing developments, including four new LIHTC projects bringing nearly 200 affordable units by 2026. These efforts reflect a strong commitment to building a vibrant, inclusive, and economically resilient community.
Media inquiries contact Deborah Sweet at 231-225-6797 or deborah.sweet@shorelinecity.com.