Another residential building has completed renovations, this time in Southwest Detroit. The Murray, which had been abandoned for decades, is now open and leasing after a $4.6 million renovation. Real Estate Interests LLC, along with Southwest Solutions, led the development.
The Murray has 12 townhome-style apartments, with three designated as affordable at 60 percent of the Area Median Income. Interior details were restored when possible, and landscaping will be added outside.
“This is not only a project of tremendous importance to the community, but also to me personally,” says W. Emery Matthews, co-founder and managing principal of REI. “I was born and raised in Detroit, and I understand the corrosive impact of vacant buildings. They exact an emotional toll and have a profound negative impact on our communities. For me, this is far more than just another real estate investment. It’s a way for the community to showcase its spirit and resilience.”
Financing for the restoration was provided by Capital Impact Partners and Invest Detroit, plus the Strategic Neighborhood Fund.
$3.3 million were also announced just down the street from the Murray at Clark Park. Improvements include a new splash pad, a new playground with accessible features, entry improvements along Vernor Highway, walkway upgrades, and a new fitness area. Work is expected to start in August, and finish next summer.
