A 27-unit apartment building just west of Boston-Edison was purchased by Develop Detroit last fall and will remain affordable housing for at least the next 25 years. The purchase was aided by a loan from the Detroit Housing for the Future Fund (DHFF), and funds from the National Housing Trust Community Development Fund and DHFF's Developers of Color Predevelopment Matching Grant Award.
The West Boston Apartments have 18 one-bedroom and nine two bedroom apartments. Apartments will be listed for rent at 50 percent area median income or below. Residents who qualify could pay just $150 to $200 per month.
Renovations include apartments, a new roof, HVAC, lighting, landscaping, and improvements to interior common areas. Renovations, totalling $560,000, are expected to be done by September.
"This is an important project for Develop Detroit because it preserves long-term affordability in the neighborhoods," says Sonya Mays, president and CEO of Develop Detroit. "The West Boston Apartments build off our work in the nearby North End neighborhood and bring us deeper into the neighborhoods, where we are intending to do a lot more projects just like this, preserving affordability for Detroiters and bringing them the quality they deserve."
Develop Detroit's investment in the North End include new construction of homes plus renovations of homes and duplexes and the renovation of the Marwood Apartments in the last few years.
The West Boston Apartments sit just west of the historic Boston-Edison neighborhood and south of Russell Woods. It's an area that has not seen significant investment from developers in recent years, although many historic homes in Boston-Edison have been purchased and renovated. It's blocks away from the recently rehabbed Gordon Park and the renovated church/now coffee shop the Congretation.