This past week, the city announced another extension of affordable rents, this time for seniors on the east side. Parkview Place in Elmwood Park has wrapped up a $19.7 million renovation, and rates will remain affordable for at least 45 years.
The building has 198 apartments and renovations were completed with both mechanical upgrades to the building and individual apartment rehabs. According to a press release, the building received new elevators, a new roof, new windows, new water pumps and boilers, and a new parking lot. Each apartment had $41,000 in work done, which included new kitchen fixtures and cabinets, upgraded bathrooms, and new flooring and lighting.
The renovation was led by MHT Housing. Affordability was kept with a combination of a 9% Low Income Housing Tax Credit from the Michigan State Housing Development Authority, a renewal of a 42-unit Section 8 contract with the U.S. Department of Housing & Urban Development, and an additional eight units of project-based Section 8 vouchers from the Detroit Housing Commission.
Ten of the units are renting at 40% Area Median Income (AMI), or $600 per month for a one-bedroom; 50 unites at 50% AMI, or $750 per month, and 138 units at 60% AMI, or $900 per month. The vouchers ensure that residents won't pay more than 30 percent of their income for rent and utilities.
“Protecting affordable housing is one of the Housing & Revitalization Department’s most important missions,” said Julie Schneider, director of the City of Detroit’s Housing & Revitalization Department. “We are committed to ensuring that Detroiters can afford to stay in their homes and in the city. We thank MHT Housing for their continued commitment to providing quality affordable housing in neighborhoods across the city.”
