A new development in North Corktown broke ground this week, the first of three phases of the project. The Preserve on Ash will bring 69 apartments to the neighborhood, with 100 more coming in future phases.
This is part of the $30 million Hud Choice Neighborhoods grant the city received in 2021.
Five new buildings will house the new apartments. 48 of these units will be for those making at or below 30-60% Area Median Income (AMI).
The development is led by the nonprofit Community Builders, who expect to start the next phases of the project next year.
“As a leader in neighborhood transformation for sixty years, we are thrilled to join Mayor Duggan, partners and neighbors to break ground on Preserve on Ash I,” said Bart Mitchell, president and CEO of The Community Builders. “The Preserve on Ash development will increase quality affordable housing, expand resident opportunity, and spark economic investment in Detroit’s oldest neighborhood as part of the Greater Corktown Choice Neighborhoods Initiative. The start of construction is an exciting milestone making Greater Corktown Detroit’s a neighborhood of choice.”
The development is supported with $2.5 million from the Detroit Housing for the Future Fund, $2.77 million from the HUD Choice Neighborhoods, $2.3 million Community Revitalization Program loan from the Michigan Strategic Fund, EGLE, Bank of America, gap financing from the Michigan State Housing Development Authority, 9% Low Income Housing Tax Credit, and the American Rescue Plan Act.
It's one of many affordable housing projects underway through this HUD grant, including redeveloping Clement Kern Gardens in Corktown, which should start next year.
“Our goal is to ensure that every resident, regardless of income, can call Corktown home and participate in its vibrant community,” said Julie Schneider, Director of Housing & Revitalization at the City of Detroit. “The Corktown Choice transformation plan is our commitment to securing this future.”
