Developers complete $22.5 million mixed-use building in Detroit

0



DETROIT (AP) — Developers have completed a $22.5 million mixed-use building in east Detroit.

The Parker Durand officially opened Thursday and features 92 units, half of which are earmarked for affordable housing, according to Mayor Mike Duggan’s office.

The new construction is a key part of the work of the City’s Strategic Neighborhoods Fund initiative in Detroit’s Islandview/Greater Villages neighborhood.

Developed by Invest Detroit and The Roxbury Group, Parker Durand also offers retail space on the first floor. Two have already been rented.

The site was a vacant lot and the corner it sits on was an underdeveloped commercial corridor, Duggan said.

“Today is a beautiful new building that will house Detroit residents of all income levels along an attractive new cityscape,” he said. “This is how we are rebuilding our city as a place of beauty where any Detroiter can afford to live in any neighborhood they choose.”

The Strategic Neighborhood Fund is a $150 million private-public partnership administered by the nonprofit Invest Detroit and funded by six businesses and several philanthropic organizations. Duggan announced the fund in 2014 in three neighborhoods. The program was extended in 2018 to seven additional neighborhoods.


Source link

Share.

Comments are closed.