Northend Neighborhood Recovery - 29 Unit Residential begins construction

Under the "What about the Neighborhoods" category... the Northend Neighborhood [north of E. Grand Blvd, east of Woodward, west of I-75, south of Boston Edison] continues its recovery with the announcement of the beginning of construction on a 29-unit mixed-use development called the Beauton on Horton.

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What’s happening: Construction is underway at The Beauton, the new mixed-use development in Detroit’s North End. The $7.3M development features 29 residential units that have been guaranteed at “affordable housing” rates for the development’s first 12 years.

What it is: The Beauton features 10 micro-studio units, 15 studios, 2 one-bedroom units, and 2 two-bedroom units. More than half of the units will be rented at or below 80 percent of the area median income [[AMI), with the rest of the units renting for 50 to 120 percent of the AMI. It means that the micro-studios can be had for as low as $700 per month. It’s expected that the three-story building will be ready for residents come summer 2024.

Location 530 Horton

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I like to see development, but the area needs market rate housing if it's going to actually improve, not more apartments subsidized on the back of taxpayers.

There's absolutely no shortage of affordable housing in the city.

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Originally Posted by K-slice

There's absolutely no shortage of affordable housing in the city.

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I searched online for that address - 530 Horton - and it brings up a nice duplex. Is that still there?

https://www.zillow.com/homedetails/5...88133098_zpid/

What would the square footage of a "micro-studio be like? I've heard of regular studios being about 300 square feet so I can only imagine what a "micro-studio" looks like.

A 300 sqft apartment is probably better regarded as micro-studio. I don't think there's a hard and fast line, but if it's over 400 sqft you are getting into regular studio territory.

From a practical standpoint, I'd say a micro-studio is when you start having to really think about space-efficient stuff, like stuff that can be stowed/folded when not in use, or that has multiple uses, or maybe a loft area, because once you exclude the bathroom and dining areas, and have a bed [[which may be one of the things you fold up), there's just not that much space left. Once you get up above 500 sq ft, you really have quite a bit of room for normal stuff.

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Originally Posted by JonWylie

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Go to Zillow and put in 48228, you'll see dozens of move-in ready homes selling for $100,000 or less. That means you're looking at a sub $650 mortgage, and you'll be getting a lot more than a micro studio.

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Originally Posted by JonWylie

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In fact, the report also found that there are only four cities in the entire country where it’s cheaper to buy than rent a home — as in, the home’s estimated monthly mortgage cost is less expensive than its estimated monthly rent.


This uncommon trend is most noticeable in Detroit, Michigan, where the average home is 24% less expensive to buy than to rent. According to Redfin, the median estimated monthly mortgage payment for Detroit homeowners is $1,296. Meanwhile, the median estimated rent in the city is $1,697.

https://www.apartmenttherapy.com/us-...o-buy-37261080

In order to lower the tax burden it is better to invest in people that generate wealth then those who consume it.