Detroit, Michigan – Along with other important leaders including City Council President Mary Sheffield, Lieutenant Governor Garlin Gilchrist, and CVS Health representatives, Mayor Mike Duggan marked the grand opening of two affordable housing projects created by MHT Housing Inc. in a major step towards making Detroit accessible to all again. In two of Detroit’s most sought-after areas, these developments should offer much-needed reasonably priced homes.
The first of these, Brush Park Apartments, is a $19 million project with 3,800 square feet of commercial space together with 53 affordable homes. Strategically located north of Detroit’s downtown, this development is in an area recognized for its energetic sports and entertainment scene.
With major allocations made for deep affordability, Brush Park Apartments offers a mix of studio and one-bedroom units; 30 units are reserved for individuals earning 40 percent or less the area median income (AMI), including several with Project-Based Vouchers ensuring residents do not pay more than 30 percent of their income towards rent and utilities.
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A short distance away, the MLK on 2nd development adds another layer to Detroit’s affordable housing framework. This $11.5 million building adds ground-floor business space and 33 one-bedroom apartments, therefore improving the conveniences of the area. With extra accommodations for even lower income levels, this development guarantees that all units are accessible to people earning 60 percent AMI or below, therefore improving the community’s access to affordable housing.
“Today is an example of the city we are building, where residents of all income levels can afford to live well in any neighborhood they choose, even our hottest neighborhoods like Brush Park and Midtown,” said Mayor Mike Duggan. “Van Fox and MHT Housing have played a huge role in the $1 billion of affordable housing we have built over the past five years and they’re not slowing down. I am deeply appreciative of their continued investment in affordable housing in Detroit.”
With a $11 million investment, CVS Health’s participation in the Brush Park initiative shows their larger dedication to tackling housing issues. The CEO of CVS Health, Aetna Better Health of Michigan, Teressa Smith stressed the need of combining housing with access to healthcare and supporting services.
“When we make investments in local communities, we’re able to create a meaningful impact and help provide equal opportunity for people to improve their wellbeing and reach their fullest potential,” said Teressa Smith.
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Among other financial incentives, Fifth Third Bank and the Michigan State Housing Development Authority (MSHDA) offered a 9 percent Low-Income Housing Tax Credit, therefore supporting these projects. The financial donations, according to David Girodat, Regional President of Fifth Third Bank in Eastern Michigan, are meant to support communities that let Detroiters thrive free from the burden of unfair housing expenses.
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The Brush Park and MLK on 2nd complexes are shining examples of advancement as Detroit keeps revitalizing and expanding, combining cost with quality living. These initiatives not only provide a roof over many but also include them into the pulse of Detroit’s busy metropolitan life. Detroit leads urban regeneration emphasizing inclusivity and sustainability through the implementation of ongoing alliances and investments.
More details about these projects can be found here.