Detroit Surpasses $1 Billion Milestone in Affordable Housing Investment

USIG Staff - April 2024

East Jefferson Ave is home to Detroit's latest affordable housing development, a new 150-unit riverfront residential project. The commencement of the project marks $1 billion in affordable housing developments throughout the city since 2019. Made possible by city, state, federal, and private funding, the investments have been allocated to 71 affordable housing projects across Detroit.

On April 12th, Mayor Mike Duggan announced the East Jefferson Ave project from the construction site. Julie Schneider, director of the housing and revitalization department, highlighted the impact of these developments, stating that they will benefit 46 Detroit neighborhoods and provide housing opportunities for tens of thousands of residents. The East Jefferson development alone, with a $45 million investment, will offer units at various income levels, ensuring affordability for a diverse range of residents. 

Detroit City Council member Fred Durhall III also emphasized the importance of addressing housing affordability, naming it the top priority for Detroit residents. He noted the diversity of income levels served by the affordable housing projects, ranging from 30% to 120% of the area median income.

The recent investment is part of ongoing efforts to preserve and create affordable housing in Detroit. Developer David Alade's project, The Claire, is a notable example focused on revitalizing housing in Piety Hill and other neighborhoods near downtown. The project includes units with rents set between 50 and 80 percent of the area median income.

Overall, the 71 multi-family housing projects have resulted in the creation of 4,646 affordable housing units, with a majority of units affordable to households earning 60 percent or less of the area median income. Mayor Duggan emphasized the community-wide commitment to affordable housing, which has helped prevent homelessness and tent cities in Detroit.

Looking ahead, partnerships between developers, community stakeholders, and government agencies will continue to play a crucial role in addressing Detroit's housing needs. The investment milestone reflects a shift towards a city that prioritizes affordable housing as a cornerstone of its revitalization efforts.