Housing finance · Development · Education
Making housing pencil out.
Principal of Acosta Development, a consulting practice focused on financial feasibility, gap financing, subsidy programs and project finance for housing, economic development and construction clients. Based in Midland, Michigan; working statewide and nationally.
$45M+
in completed development projects
$20M
in project grant funding secured statewide
2018–
teaching developers across the US and Canada
2022
Governor’s Award for Historic Preservation
Core expertise
Financial feasibility & proforma modeling
Capital stacks & gap financing
Historic tax credits & adaptive reuse
Grant writing & program design
Housing policy & advocacy
Community & stakeholder engagement
Public speaking & curriculum development
Experience
Developer, consultant, teacher.
2015 – Present · Acosta Development, Midland, MI
Principal
Operating partner on real estate development projects and owner’s representative for property owners and institutions.
Consult on neighborhood housing and financial feasibility for municipalities, nonprofits, developers and financial institutions across Michigan and nationally.
Secured financing, permits and delivery for $45M+ in downtown redevelopment.
2023 – Present · Midland Business Alliance, Midland, MI
Lead Consultant, Housing Forward
Direct a five-pillar attainable housing initiative for Midland County with the Midland Economic Development Team.
Lead the Region G Housing Partnership under contract with MSHDA.
Briefed congressional staff on housing policy in Washington, DC alongside Smart Growth America.
Convene lenders, foundations and CDFIs to expand financing pathways for workforce housing.
2026 – Present · deallab.jeniferacosta.com
Founder & Creator, Deal Lab
Built and launched a web-based housing finance app for modeling deals, testing capital stacks and understanding funding gaps.
2018 – Present · Incremental Development Alliance
Senior Faculty & Board Member
Lead trainings on small-scale investment, neighborhood-scale housing and commercial buildings across the US and Canada.
Created trainings for elected officials and urban planners; coach emerging developers from first deal through delivery.
2024 – 2025 · Renovare Development, Ypsilanti, MI
Vice President of Real Estate Development
Financed housing projects statewide, securing $20M in project grant funding.
Led incentive applications including HOME, Missing Middle Housing, Community Revitalization Program and New Markets Tax Credits.
Development portfolio
Buildings with a past, built for what comes next.
Water Street Lofts
$20M
Bay City · New construction
Workforce housing with one commercial space. Project finance and creation of the Housing TIF plan.
The Legacy (Crapo Building)
$12M
Bay City · Owner / developer
Mixed-use adaptive reuse: 26 apartments, 2 offices and a restaurant. Governor’s Award for Historic Preservation.
The Times Lofts
$7.9M
Bay City · Owner’s representative
A vacant 115-year-old newspaper building turned into 31 lofts. Economic development and historic tax credit awards.
Wenonah Park Pavilion
$1.8M
Bay City · Owner’s representative
Arts and entertainment venue for the State Theatre of Bay City.
The Davidson
$1.3M
Historic rehabilitation
Rehabilitation of a 40-unit commercial building.
Westwood Village
10 condos
Midland · Owner & listing agent
For-sale condos rehabilitated after the 2020 flood, the first condos in Midland. Managed design, construction, financing and sales.
Drift
Tactical urbanism
Bay City · Hospitality
Shoreside beer garden and food truck park.
New in 2026 · Deal Lab
Model the deal before you make the deal.
A web-based housing finance tool for civic leaders and emerging developers. Model deals, test capital stacks and see exactly where the funding gaps are.
Try Deal LabPublications
Tools you can use on your next deal.
Guidebooks, reference guides and field tools for developers, builders and local officials. Built from real Michigan projects. Download a guide, use a worksheet, or read the latest article.
Housing Forward · May 2026 · Practitioner guidebook
A field manual for developers, builders and investors in Midland County and Region G. Nine chapters take you from feasibility to closeout. Fifteen appendices give you checklists, worksheets and a Michigan financing programs matrix.
Michigan Land Bank Authority · 2022 · Guidebook
A guide for developers and local officials on using Michigan's Brownfield TIF (Act 381) to close the financing gap on attainable housing. It explains why deals don't pencil, how BRAs and land banks work together, and what a brownfield plan needs.
Housing Forward · April 2026 · Reference guide
Shared language for elected officials, planners, builders and residents. Defines 74 terms across affordable and attainable housing, finance, zoning, development, and Michigan programs.
Field tools
Ten worksheets and checklists from the Redevelopment Guidebook. Print one per project.
Rehab Due Diligence Checklist A drive-by to closing checklist for 1 to 4 unit rehabs. Covers inspections, title, zoning, environmental, financing and insurance.
Common Rehab Mistakes Twenty mistakes that blow up rehab budgets, with cost ranges. A $250 to $500 sewer scope can prevent a $5,000 to $20,000 repair.
Weatherization & CDBG Pathway How small contractors qualify for Michigan Weatherization Assistance Program and CDBG / MI Neighborhood rehab work.
Contractor Vetting + Bid Comparison A vetting checklist and a side-by-side bid worksheet across 13 scope categories, with red flags to watch for.
Renovation Scope of Work Template Scope template with general provisions and a five-milestone payment schedule tied to lien waivers.
Permit & Inspection Sequence Twelve inspection touchpoints in order for a Michigan residential rehab, from demolition to final building.
Soft Cost Worksheet Nineteen soft cost line items with typical ranges. Plan for 8% to 15% of hard cost.
Comp Analysis for ARV A three-step worksheet to set a defensible after-repair value, with adjustment ranges and the 70% rule.
Rental Readiness & Habitability Michigan code requirements, pre-tenant inspection items and move-in documents in one checklist.
Project Closeout & Punch List Code, documentation, interior and exterior items to finish before you list or lease.
Articles
Housing Is Simple, Why Isn't It Easy?
LinkedIn · September 30, 2025 · Article
Water Street Lofts in Bay City took 18 months and more than seven funding sources to reach construction. This article shows why: the math, the gap, and 838 pages of paperwork behind one workforce housing project.
Related: Water Street Lofts · Housing IS Economic Development
Housing Is About People. Let's Build a Common Language.
LinkedIn · March 10, 2026 · Article
Half of every county's households earn below area median income. That half is where the housing shortage hits. This article puts faces on each tier of the AMI spectrum and gives elected officials a framework of ladders and safety nets.
Related: Glossary of Housing Terms
Credentials
Education, service and recognition.
Education & certifications
Graduate Certificate, Real Estate Development, New York University
M.A., International Administration & Sustainable Development, University of Miami
B.A., Sociology, Southern Illinois University
Housing Development Finance Professional (HDFP), Grow America
CNU-A, Congress for the New Urbanism
Graduate, ULI Larson Leadership Institute
Real Estate Sales License, State of Michigan
Board service & affiliations
Midland Center for the Arts, Board Chair (FY24–26)
Incremental Development Alliance, Board Member
Michigan Municipal League Foundation, Board Member
Midland County Land Bank, Board Member
ULI Michigan Local Product Council, Housing & Community Development Program Chair
Member, Urban Land Institute and Congress for the New Urbanism
Awards & recognition
Governor’s Award for Historic Preservation, The Legacy (2022)
MHPN Building Award, The Legacy (2020)
Good Samaritan Award, Midland Board of Realtors (2023)
Michigan Downtown Association Economic Development Award, The Times Lofts (2017)
MHPN Tax Credit Project Award, The Times Lofts (2017)
Crain’s Detroit Michigan Change Makers: Ones to Watch (2017)
RUBY Award, Great Lakes Bay Region (2017)
Work with me
Have a project that needs to pencil out?
Feasibility studies, gap financing strategy, owner’s representation, housing policy work, or training for your community or team. Start with a consultation.
Email jen@jeniferacosta.com
Midland, Michigan