This week, officials celebrated the grand opening of the first development from Flux City Development. The Ribbon, which includes 18 apartments and community space, is now open on East Warren.
The 18 apartments are listed as affordable, with 14 renting at 80% Area Median Income (AMI), with the other four at or below 60% AMI.
The $8.2 million development was part of the Strategic Neighborhood Fund, which helps revitalization in specific neighborhoods around the city. Funding for the project came from a $1.4 million grant from the Strategic Neighborhood Fund, $600,000 in loans from the Detroit Housing for the Future Fund, $338,199 in Detroit Housing for the Future Preferred Equity, $2.2 million from Capital Impact Partners, a CIP EDI grant of $75,000, and a $1.3 million investment from Michigan Economic Development Corporation. It also qualified for a DHFF Developers of Color Matching Grant, which is through a partnership with JP Morgan Chase.
"Our goal was to create a space that reflects the needs, hopes, and dreams of the East English Village community, and I believe we’ve accomplished that with The Ribbon,” said Edward Carrington of Flux City Development. “The Ribbon represents new beginnings—a project that will bring opportunities not just for businesses, but also for families and individuals looking to call this community home."
The Ribbon will also be home to Aura Vibez Movement Studio, which will have 2,000 square feet of space for yoga and other community activities.
"Edward Carrington embodies the kind of developer our community values. He prioritizes collaboration, ensuring that development on E. Warren Ave is happening with the community, not imposed upon it,” said Joe Rashid, executive director of East Warren Development Corp. “From hosting the farmers market at his site in 2020 to organizing community coffee hours and engaging residents through online discussions, Edward has consistently been attentive and responsive to the community’s needs."
