Develop Detroit will build or rehab or build 70 new homes in the North End and Grandmont-Rosedale neighborhoods.
It is the first project of this type for the nonprofit real estate developer and is the first scaled, for-sale, new construction in the North End in decades. Homes built in Grandmont-Rosedale will be in partnership with the Grandmont Rosedale Development Corporation.
“After months of planning, we’re happy to announce this project and continue to make strides toward enhancing and reinforcing the urban vitality of the North End and Grandmont-Rosedale neighborhoods,” says Sonya Mays, Develop Detroit president and CEO. “This project goes beyond creating affordable housing for Detroiters, particularly in the North End. It will add needed energy, increase neighborhood density and provide more opportunities for residents, existing and new.”
JPMorgan Chase & Co. is the project’s primary investor and is part of its $150 million investment to support and advance Detroit’s economy and recovery. Part of those dollars helped launch Develop Detroit and jumpstart its initial developments.
JPMorgan Chase’s employee Service Corps will be part of the project. From May 7-25, a team made up of four JPMorgan Chase employees – two from the US, one from Malaysia and one from Ireland – will work with Develop Detroit for three weeks. This year marks the 100th Service Corps member to participate with a Detroit-based organization.
Develop Detroit has also received backing from the Housing Partnership Network (HPN), a business collaborative of 100 of the nation’s leading affordable housing and community development nonprofits. In 2016, Mays worked closely with HPN to establish Develop Detroit as a social venture in the aftermath of Detroit’s municipal bankruptcy.
“Develop Detroit’s work to build housing that is affordable and dynamic is aligned with the city’s goal to build one Detroit for all of us,” says Arthur Jemison, director of housing and revitalization for the City of Detroit. “This development and investment will drive inclusive growth in the North End and Grandmont-Rosedale and give residents an opportunity to participate and live where they desire, no matter their income or background. We’re proud to have an organization like Develop Detroit doing this important and inclusive work in our city.”
For more information about Develop Detroit’s for-sale homebuilding and renovation program, contact email@example.com.
— Rendering courtesy of Christian Hurttienne Architects.