Detroit Celebrates Groundbreakings of Two 100% Affordable Housing Developments

Strategic Insights -

Mayor Mike Duggan, City Council President Mary Sheffield, and CVS Health joined developer MHT Housing, Inc. to celebrate the groundbreakings of two 100% affordable housing developments in Detroit's hottest neighborhoods. The developments, Brush Park Apartments and MLK on 2nd, will provide 86 units of affordable housing, with 63 units deeply affordable for those earning 60% AMI or below. The projects are replacing vacant land with affordable housing, demonstrating the city's commitment to creating opportunity for all Detroiters.

Key Takeaways:

  • The two developments, Brush Park Apartments and MLK on 2nd, will provide 86 units of affordable housing, with 63 units deeply affordable for those earning 60% AMI or below.
  • The projects will feature ground-floor retail, bringing more amenities to residents and the broader community.
  • Brush Park Apartments will include 53 affordable units and 3,800 square feet of commercial space, with 30 units set aside as deeply affordable at 60% AMI and below.
  • MLK on 2nd will feature 33 units, with 20 units at 40% AMI and 23 units at or below 80% AMI.
  • The developments will offer Project-Based Vouchers (PBVs) through the Detroit Housing Commission, ensuring that residents won't pay more than 30% of their income on rent and utilities.
  • CVS Health has invested $11 million in Brush Park Apartments, part of its $35 million investment in affordable housing across Michigan.
  • The development will feature first-class amenities, including energy-efficient appliances and private parking.
  • The project received a 9% Low-Income Housing Tax Credit (LIHTC) allocation from the Michigan State Housing Development Authority in the February 2021 funding round.

Statistics:

  • 63 units on the two developments will be deeply affordable for those earning 60% Area Median Income (AMI) or below.
  • 20 units at MLK on 2nd will be available for households earning 40% AMI.
  • 23 units at MLK on 2nd will be available for households earning 80% AMI or below.
  • CVS Health has invested $35 million in affordable housing across Michigan to date.
  • Brush Park Apartments will feature 50 one-bedroom units and 3 studios.
  • 30 units at Brush Park Apartments will have Project-Based Vouchers (PBVs).

Sources:

  • Mayor Mike Duggan
  • City Council President Mary Sheffield
  • CVS Health
  • MHT Housing, Inc.
  • Euclid Infotech Pvt. Ltd.