City Unveils $35 Million Private Investment Fund for Detroit Neighborhoods

In an exciting announcement in early December, Mayor Mike Duggan unveiled a new $35 million investment fund to help boost seven Detroit neighborhoods. According to the Detroit News the Strategic Investment Fun 2.0 will be providing money to help "improve parks, streetscapes and commercial corridors as well as single-family and affordable housing over the next five years." The neighborhoods that are earmarked for funding are Campau/Banglatown, East Warren/Cadieux, Grand River Northwest, Gratiot/Seven Mile, Jefferson Chalmers, Russell Woods/Nardin Park and Warrendale/Cody-Rouge.

This funding is just one of many examples of money being poured back into revitalizing Detroit neighborhoods. The announcement is welcome news to both residents and investors and is sure to have a positive impact on quality of life as well as property values. In addition to the added curb appeal, multiple vacant houses have been targeted for renovation with the goal of increasing stocks of affordable housing.

At Rondo Investment we see evidence of the revitalization of Detroit every day, and we applaud the companies who have seen this same opportunity and have donated to this fund. American Axle & Manufacturing, Blue Cross Blue Shield of Michigan, Chemical Bank, Fifth Third Bank, Flagstar Bank, Huntington Bank and Penske Corp have each pledged $5 million to the effort.

Further information can be found via the Detroit News: