Group investing $27.5 million in new housing for Detroit neighborhoods

A group led by Detroit native Stephen Ross announced Thursday they are investing tens of millions of dollars to bring new housing to the city of Detroit. Ross, who is a real estate developer and owner of the Miami Dolphins, partnered with the Ford Foundation and The Platform to invest $27.5 million for new housing. The announcement came during day two of the fourth annual Detroit Homecoming event, which focuses on bringing those who are from Detroit bak home to get them excited about being a part of the growth. The goal with the investment is to bring affordable housing and market rate housing, focusing on neighborhoods outside of the significant development areas. Those include Islandview, Bightmoor/Old Redford, New Center, Tech Town, Milwaukee Junction, North End, Eastern Market and Riverfront.

2 thoughts on “Group investing $27.5 million in new housing for Detroit neighborhoods”

  1. They need to lower property taxes. Otherwise the population will continue to shrink. It's hard to get real estate prices to go up with a shrinking population, almost impossible.

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