Michigan-based Ginosko Development and New York-based L+M Development Partners recently announced the acquisition of nine affordable housing properties across the state, including three in Detroit. Half of the 1,640 units (across 115 buildings) are for seniors.

According to a release, the partners said they'd modernize the properties while maintaining affordable housing. Upgrades will include interior cosmetic updates like kitchens and baths and common areas, mechanical updates, exterior landscaping, and façades improvements.

Greenhouse in DetroitGinosko Development

“Here you had a minority development company with the creativity and know-how to structure this portfolio located in its own “backyard,” coupled with the additional financial wherewithal and collective genius of L+M, CPC, and Merchants; I truly do believe these deals reflect the heart of economic and collaborative equality. Everyone has been an absolute pleasure to work with,” said Amin Irving, Founder, President, and CEO of Ginosko Development Company.

The properties include:

  • Art Center in Detroit, with 40 two-bedrooms and 20 three-bedrooms;
  • Greenhouse by the Southfield Freeway in Detroit, with 209 one-bedrooms, all for seniors;
  • Lexington Village in the New Center neighborhood of Detroit (seen at the top of the page), with 207 one-bedrooms, 124 two-bedrooms, and 20 three-bedrooms, with 200 units for seniors;
  • Lawrence Park in Center Line, with 120 one-bedrooms, 108 two-bedrooms, and 24 three-bedrooms, with 126 units for seniors;
  • Birch Park in Saginaw, with 4 one-bedrooms, 84 two-bedrooms, and 32 three-bedrooms;
  • Charring Square in Monroe, with 56 one-bedrooms, 86 two-bedrooms, and 58 three-bedrooms;
  • Coventry Woods in Walker, with 100 one-bedrooms, all for seniors;
  • Lincolnshire in Canton, with 24 one-bedrooms, 103 two-bedrooms, and 20 three-bedrooms;
  • Phoenix Place in Pontiac, with 201 one-bedrooms, all for seniors.