Detroit Housing Project Begins Phase Two

[jpbollma]

http://www.crainsdetroit.com/article...-for-new-homes

[Pcm]

Where exactly is this project located?

And did anyone else catch that phase one is fully leased, from $60 to $600 per month?? SIXTY DOLLARS???

[Richard]

Where exactly is this project located?

And did anyone else catch that phase one is fully leased, from $60 to $600 per month?? SIXTY DOLLARS???

Subsidized housing based on your monthly income,if the average rent is $600 and your income is that where your percentage is where you can afford say 20% then the balance is covered by the feds.

Same as if you want to rehab or build a multi family apartment building if you set aside something like 20% or so of the units for 5 years for low income you can get HUD funding,the whole concept was to mix income levels and do away with full blown section 8 projects,that's why they sell apt buildings after the 5 years because they can then drop the low income aspect and maximize profit.In theory they are not losing because of the grants but that money was spent on construction so it is not on the books as full monthly collection potential.

A lot of people do not like the concept because the result has been spreading problems over a large area verses a more contained section.A gang member or thug is still the same no matter where the roof is and as always a few ruin it for the majority.

[Detroitej72]

Where exactly is this project located?

Off Mound Road, just north of Hamtramck.

[Hypestyles]

intriguing.. more diverse housing options needed in the city.. mixed income, high income, etc.