In a significant boost to Detroit's revitalization efforts, Mayor Mike Duggan, in collaboration with the Detroit Economic Growth Corporation (DEGC), has unveiled a $14.5 million funding initiative to support five neighborhood development projects across the city. This financial injection, obtained through the Revitalization and Placemaking (RAP) 2.0 program of the Michigan Economic Development Corporation (MEDC), marks a crucial step towards transforming blighted structures into vibrant community spaces.

A notable aspect of these endeavors is the active participation of African American developers, underscoring the city's commitment to diversity and inclusivity in urban development. The funding is deemed critical to the success of these mixed-use projects, which aim to breathe new life into neglected spaces, fostering economic growth and community engagement.

The five development projects set to receive financial support are as follows:

1. Broadway Lofts: The RAP grant funding for this project amounts to $4.275 million. This initiative will transform three buildings on Broadway Street into a mixed-use property with 80 residential units and ground-floor retail space. 
2. Fisher 21 Lofts: With a RAP grant funding of $4.75 million, this project will convert a vast 600,000-square-foot building into 433 residential units, including market-rate and affordable apartments. This project will also feature retail and co-working spaces. 
3. The Arthur Murray Building: The abandoned Arthur Murray Building will be transformed into 32 residential apartments and ground-floor retail space. The project is backed by a $2.128 million RAP grant. 
4. Jefferson Intermediate School: Purchased by Midtown Detroit, Inc. (MDI) and Invest Detroit in 2018, the former school building will undergo a $44.4 million renovation to become a multi-tenant office and innovation/co-working space. The RAP grant funding for this endeavor amounts to $1.425 million.
5. The Deco: The RAP grant funding for this project is $1.197 million. The 8,000-square-foot commercial building on East Warren will be converted into six rental apartments and a ground-floor restaurant. 

The announcement of this funding initiative took place inside the former Jefferson Intermediate School, symbolizing the transformative journey of Detroit's vacant structures. The school's ongoing renovation, slated for completion this year, will not only function as the new headquarters for Invest Detroit, but also contribute to the broader goal of providing affordable housing, amenities, and business opportunities for Detroiters.

With groundbreaking expected in the first quarter of 2024, these neighborhood development projects signify a pivotal moment in Detroit's journey towards economic growth, community prosperity, and urban renewal. The infusion of $14.5 million is poised to catalyze positive change and further establish Detroit as a beacon of transformation and resilience.