Single Family Homes Slated for Detroit's North End

The development of Detroit outside of its downtown core continues with the announcement of new single-family homes in Detroit's North End and Grandmont-Rosedale areas. Organizations such as The Ford Foundation, Kresge Foundation. JPMorgan Chase, and U.S. Bancorp Community Development Corporation have pooled funding for a two phase project constructing and rehabbing single family homes starting in December. Phase one of the project will see 12 new homes constructed and 18 home rehabbed. The announcement is particularly exciting as these will be the first new single family homes constructed in the area in decades. The houses will be priced between $150,000 and $300,000 which will result in a boon to the property values of the area. In addition to increasing property values in the area, at Rondo Investment we view any investment in the city of Detroit as a positive step forward. We applaud these companies for providing the funding to allow these developments to happen. Hopefully this will be the first of many positive announcements about investment in Detroit as we head into 2019.

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