A new building is now open in the North End, bringing 29 apartments to the neighborhood. The Beauton is a $7.3 million project at Horton and Beaubien.
The new apartments include two two-bedroom units, two one-bedroom units, 15 studios, and 10 micro-studios. Rent for these will run between 50-120% Area Median Income, with most at or below 80%.
The Beauton is the first new construction development from Charles Dickerson III's CADS III Management. Funding came from a variety of sources, including a $1.497 million grant from the Michigan Economic Development Corporation; a $2.45 million construction loan, a $1.35 million bridge loan, and a $93,000 grant from Capital Impact Partners; a $1.55 million loan from the Detroit Housing for the Future Fund; a tax abatement from the Detroit Economic Growth Corporation; and a $500,000 loan from the Ebiara Fund.
"The Beauton has transformed three parcels that were once vacant, blighted and aging into a beautiful building featuring a combination of affordable housing and market-rate units," said Damon Hodge, Senior Loan Officer for Capital Impact Partners. "We are proud to provide Charles Dickerson with financial support to help stabilize and revitalize the resurgent North End neighborhood. Charles graduated from our Equitable Development Initiative in 2020 and has expanded on his work serving Detroit, while also mentoring emerging local developers so that they too can do even more to help our communities."
“I am truly grateful for the support that was made available by all of our partners on this project” said Dickerson. “Making sure these apartments were affordable is important to us. Making sure the Beauton is attainable for all Detroiters is a critical part of the mission for this project.”
The North End sits east of Woodward and north of East Grand Boulevard. It' borders Milwaukee Junction, which has many adaptive reuse projects underway, and New Center, which has had many developments over the past 10 years. New construction and many rehabs have taken place in the North End over the past decade.
