Earlier this year, we mentioned Piety Hill as a place to watch for development in Detroit in 2023. The area between New Center and Boston-Edison on the west side of Woodward has seen a lot of investment and new construction over the past couple years. It's also home to many old apartment buildings ready to be rehabbed.
Today the city announced that renovation has started at the Kingsley Arms Apartments and the Lee Arden Apartments, which sit next to each other on Hazelwood Street. With help from the Detroit Housing for the Future Fund (DHFF), the rehabs will bring 87 affordable apartments to the central Detroit neighborhood.
Hazelwood Partners is leading the development, which includes includes Ryan Zampardo and Devon Caldwell of Detroit-based Inkwell Partners, David Conca of Vera Development, and Todd Rodgers of Essential Property Management. The developments together will cost $10.3 million, with $6.69 million in loans provided through the DHFF. The full renovation includes new electric, plumbing and HVAC systems; replacement of windows and roofs; and improvements to common areas.
All 87 units in the two buildings will be offered as affordable housing. Nine apartments will be at or below 45 percent area median income (AMI), 9 at or below 55 percent AMI, and the rest at or below 80 percent AMI. This equates to rents between $805-$1,000, for Detroiters making between $31,350 and $50,160.
“We appreciate the City of Detroit, LISC Detroit, and the Detroit Housing for the Future Fund for helping us transform these beautiful, historic buildings” said Ryan Zampardo of Hazelwood Partners. “It is extremely important to us as developers to make sure our apartments are attainable for all Detroiters. Without the DHFF, achieving these affordability levels would not be possible.”
The renovations should be complete by the end of the year.