Steve Rypma concentrates his practice on real estate transactions. He represents clients in all aspects of real estate acquisition, disposition, development, leasing, and financing. While Steve's experience spans a range of sectors and industries, including office, retail, healthcare, industrial and multifamily, he devotes a significant amount of his practice to the representation of developers involved in the acquisition, development and financing of affordable housing.

  • Steve regularly represents developers of affordable housing projects in connection with the acquisition and syndication of low-income housing tax credits and in bond, loan, grant, and other financing transactions with federal, state, and local housing authorities, including HUD, the Michigan State Housing and Development Authority, and the Indiana Housing and Community Development Authority and other state and local housing authorities
  • Steve has substantial experience with complex real estate developments, involving joint ventures, brownfield redevelopment, tax abatements, governmental incentives and the integration of multiple debt and equity sources
  • Steve has significant expertise advising clients in connection with the State of Michigan’s PILOT tax abatement program for affordable housing projects as well as other tax abatements and incentives for such projects
  • Steve also advises institutional holders of real estate, such as manufacturers, hospital systems, retailers, banking, and educational institutions in connection with their corporate real estate concerns, including office and industrial leasing, purchase, and sale of facilities
  • Certified LEED GA (Leadership in Energy and Environmental Design, Green Associate) since 2010



Representative Matters

  • Represented a national developer in the acquisition and rehabilitation of multiple affordable housing projects throughout the State of Michigan, involving housing revenue bond financing from the Michigan State Housing Development Authority, HUD insured financing, tax abatement and the syndication of low-income housing tax credits
  • Represented developer in the financing and construction of multiple senior housing projects using debt and equity raised through the syndication of low-income housing tax credits and HUD 221(d)(4) construction financing
  • Advised a national banking institution in connection with financings for federally subsidized housing projects and resyndication of Section 42 low-income housing tax credits
  • Counseled media and publication corporation in connection with its national real estate holdings and leasing program
  • Represented major healthcare system in connection with the financing, leasing, and development of a new medical office campus
  • Represented a national loan servicer in connection with the management, sale positioning, and disposition of multifamily properties, both in the traditional market sale context and in auction sales
  • Represented international food production corporation in its national office and facility leasing program
  • Represented a Michigan-based developer of a 200,000 square-foot multi-tenant mixed-use commercial building, including all aspects relative to the procurement and assemblage of land, negotiation of easements and entitlements, leasing, financing, and obtaining economic development incentives
  • Represented a Michigan-based developer in connection with numerous refinancing and restructuring transactions associated with affordable housing preservation and repositioning efforts
  • Counseled borrowers in HUD 223(a)(7), 223(f) and other federally subsidized financing transactions

Prior Experience

  • Ice Miller LLP, Associate, 2005-2010 






  • Michigan Super Lawyers, Recognized as a Rising Star, 2011-2019

Professional & Community Involvement

Michigan Housing Council

  • Board of Directors (2022-present)

International Council of Shopping Centers (ICSC)

  • West Michigan Next Gen Committee

Indianapolis Bar Association

  • Bar Leader Series Graduate

State Bar of Michigan

  • Real Property Law Section

Kalamazoo Nature Center

  • Board of Trustees, 2015-present

Portage Education Foundation

  • Board of Directors, 2015-2020

News & Insights


  • Kara L. Hoorn and Steven J. Rypma’s election as new partners noted in the Kalamazoo Gazette and MLive.com
    Media |


  • Basics of Real Estate Conveyances
    Event | Fall 2008


  • Colorado v. Sunoco, The Tenth Circuit’s Stand on Statute of Limitations for CERCLA Cost Recovery Actions
    Publication | 81 DENV. U. L. REV. 645 |
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