Six55 brings 36 new apartments to Midtown

A new apartment building is now open in Midtown, bringing more density to the walkable neighborhood. Six55 Detroit has 36 new apartments, with nine reserved as affordable.

Developer Richard Hosey led the $10 million development. It sits on a residential street that mainly has 3-4 story brick multifamily buildings. 

“Our development team is incredibly grateful to the city, state and our lending partner Capital Impact for working with us to complete this project despite all of the pandemic-related hurdles,” said Richard Hosey, Owner of Hosey Development. “We're very happy to have the opportunity to showcase what can be achieved on the many smaller parcels around the city.”

The new build has nine studios, 18 one-bedroom apartments, and nine two-bedroom apartments. The studios are reserved as affordable, for those making up to 80 percent area median income. Rent for these will be between $1150-$1232 per month. The building has a rooftop deck and first floor retail.

The project was supported by a $950,000 Community Revitalization Grant from the Michigan Economic Development Corporation. Capital Impact Partners also supported the development with $6.2 million through its Diversity in Development loan product and through its Detroit Neighborhoods Fund.

Hosey is also part of the team developing the Fisher 21 Plant in Milwaukee Junction.