Bedrock Teams Up with the City of Detroit for Affordable Housing
In order to help create an even-playing field for Detroiters, Bedrock announced its plan to continue offering affordable housing units to the area, regardless of income, thanks to its new project.
Bedrock is a full-service real estate company which is currently located in downtown Detroit. The firm specializes in calculated redevelopment of midwestern urban areas, such as The Motor City.
In partnership with the City of Detroit, Bedrock declared they will be adding hundreds of affordable housing units over the next few years. The project begins with Bedrock’s 28-Grand, an 85-unit building located in the Capital Park district that has been scheduled for an affordable housing plan. The company also broke ground on another project in Brush Park. This facility will house 54 units and will be accessible for seniors.
From there, the company vows to preserve or create over 700 affordable housing units over the next few years.
Unlike the stereotypical affordable housing, Bedrock claims each complex will have appealing features, such as parking, retail, and fitness spaces.
“The way you grow is keeping what you have and adding more,” said Arthur Jemison, Detroit’s Director of Housing and Revitalization.
The current plan for these housing additions are to keep them located in areas of high demand—particularly in the downtown area of Detroit.
“I think it’s just great for us to be in the affordable housing market as we bring in mixed uses together and mixed incomes,” said Dan Mullen of Bedrock. “It’s just really exciting for us.”
Although exciting news, the plan isn’t 100% set in stone. The agreement which has been reached between the City of Detroit and the real estate company Bedrock is yet to be put before the city council for approval. It is slated to go before the council before the end of July 2017.
City officials believe the project is highly likely to get a green light.
News Source: http://www.fox2detroit.com/news/local-news/267070921-story