A 28-unit apartment building just outside Boston-Edison has gone from abandoned to renovated. The Charlotte is the first completed project through the Detroit Housing for the Future Fund (DHFF), which helps developers with affordable housing development projects.
The 1923 building received new HVAC, a new roof and windows, and rehabs to all its apartments. Developers Tom Anderton and Adam Noel of Charlotte Detroit LLC led the project. They received a $2.55 million from the DHFF loan for the rehab.
The Charlotte has 12 one-bedroom apartments, 13 two-bedrooms, and three studio apartments. Nine apartments are offered to those making 60% area median income (AMI), and the rest cannot exceed 80% AMI. But the developers are charging less: $725-$940 for a studio, $900-$1,075 for a one-bedroom, and $1,250-$1,400 for a two-bedroom.
“We have continued investing in Detroit in the hopes of creating updated, safe and affordable places to stay for the working class,” Noel said. “We are often someone’s first apartment after college, or when moving into the city, because our pricing is fair and offers access to the beautiful areas around Boston-Edison, which continues to grow and thrive.”
Anderton and Noel have completed many multi-family projects around the Boston-Edison area over the past six years.
The DHFF is currently supporting six other projects around the city, including a renovation just announced on Mound Road, and the Belnord in Midtown.
“Ensuring that Detroiters have access to housing that is quality, safe and affordable is one of our department’s biggest goals,” said Julie Schneider, director of the Housing & Revitalization Department. “The Detroit Housing for the Future Fund is a key tool in tackling inequality and housing instability in our city. I would like to thank LISC and the fund’s corporate givers for helping us work toward a better Detroit for all Detroiters.”
