Another development on East Warren is one step closer to groundbreaking. The Arthur Murray project, the adaptive reuse of a former dance studio, was awarded $2.4 million by the Michigan Strategic Fund this week.
The Michigan Community Revitalization Program (MCRP) performance-based loan was approved for Aria Warren Detroit, LLC and the development is led by Real Estate Interests, LLC. The $15.6 million project will bring 32 apartments, which will be for those making between 60 and 100% Area Median Income, and nearly 8,000 square feet of commercial space to the busy corridor.
“We are deeply grateful to the Michigan Economic Development Corporation and the Michigan Strategic Fund for their support in making the Arthur Murray renovation project a reality,” said Developer W. Emery Matthews, co-founder and Managing Principal of Real Estate Interests, LLC. “The Michigan Community Revitalization Program loan is a vital tool in addressing the need for neighborhood-scale, attainable housing, and it plays a key role in revitalizing communities like ours. This project is a testament to the power of public-private collaboration in creating meaningful impact.”
The East Warren corridor has seen many new developments over the past few years, including The Ribbon (completed), the East Warren Public Market (in construction), and The Deco (planned).
