• Central Detroit Christian Community Development Corporation and 360 Detroit break ground on a new rehabilitation project creating 20 renovation units that will be guaranteed at affordable rates for the next 11 years
  • Creation of 20 affordable housing units targeted to families at or below 60% AMI
  • Project made possible thanks to Detroit Housing for the Future Fund (DHFF) in partnership with LISC Detroit

 

DETROIT – Detroit Mayor Mike Duggan, members of Detroit City Council, LISC Detroit, and developers Central Detroit Christian Community Development Corporation and 360 Detroit celebrated the start of rehab construction on eight vacant duplexes and one 4-plex in Detroit’s Virginia Park neighborhood. The development, “West Euclid Gateway”, will bring another 20 units of brand-new affordable multifamily housing to Detroit.

West Euclid Gateway is part of a multi-phase revitalization effort by Central Detroit Christian and 360 Detroit near the Herman Keifer development area, which has seen $30 million in investment including 15 nearby single-family housing rehabilitation projects.

“West Euclid Gateway is bringing much-needed affordable multifamily housing to the area,” said Mayor Duggan. “Thanks to our funders and the Detroit Housing for the Future Fund, we can continue building a city where people of all income levels are able to live in any neighborhood. These properties will bring life back to the community and provide quality affordable family housing in a neighborhood that is starting to see a lot of new investment.”

When complete, the West Euclid Gateway will feature 20 fully renovated two-bedroom, one-bath units, ranging in size from 1,000 (four-plex) to 1,200 (duplexes) square feet. Each unit will include a new kitchen, a dedicated laundry area with washer/dryer hookups, and basements. Each unit will be available to residents making at or below 60% AMI, with affordability guaranteed for 11 years. Residents will be connected to neighborhood amenities including the Joseph Walker Williams Recreation Center, Henry Ford Health System, and more.

CDC is a non-profit, faith-based organization committed to empowering people and creating positive opportunities for the community. Lisa Johnson, founder & executive director of CDC, and her team have made a concentrated effort to meet the needs of the low to moderate-income population, so far renovating 244 units of housing and building 9 new homes. “The transformation we are seeing and will continue to see as housing units come on line is amazing,” says Lisa. “We are bringing vacant and abandoned housing back to life.”

360 Detroit, Inc. was founded with a vision of a cohesive community, inspired by the vibrant history of the Virginia Park neighborhood. While the organization’s work initially stemmed from the vision of one man, George Adams, Jr., and the support of a small group, it has since evolved into a collaborative, community-driven effort.

“In 2014, my neighbor and I took it upon ourselves to board up several properties on W. Euclid that were open, vacant, and hazardous,” said George. “Nearly a decade later, we now have the opportunity to be part of their revitalization—an effort that will reshape the neighborhood and leave a lasting impact for generations to come.”

Through volunteer-powered initiatives and impactful community engagement events, 360 Detroit, Inc. has partnered with residents to revitalize neighborhoods, one project at a time. The organization’s unwavering commitment is to foster connections, build trust, and sustain meaningful engagement for the long-term benefit of the community.

Funding from DHFF, LISC Detroit, MSHDA, Gilbert Family Foundation

West Euclid Gateway was made possible by the support from LISC Detroit, the Detroit Housing for the Future Fund (DHFF), the Michigan State Housing Development Authority (MSHDA), and the Gilbert Family Foundation.

“Our mission at the Gilbert Family Foundation is to drive inclusive growth and opportunity within Detroit’s neighborhoods,” said Darnell Adams, Vice President of Detroit Community Initiatives, Gilbert Family Foundation. “This project supports that goal by creating more long-term affordable housing in a rapidly growing neighborhood and supporting two vital neighborhood nonprofits.”

In addition to supporting the current phase of the West Euclid Gateway project, the Gilbert Family Foundation previously contributed to phase one, which involved the renovation of single-family homes and duplexes in Detroit’s Virginia Park neighborhood. This phase created new affordable homeownership opportunities and rental units, aligned with the Foundation’s broader goal of fostering inclusive neighborhood development in Detroit.

LISC Detroit and DHFF’s investment allows the development to provide housing to residents in an area impacted by disinvestment. DHFF, a private investment fund aimed at directing capital to creating new and preserving existing affordable housing in Detroit, is anchored by a $15 million commitment from JPMorgan Chase of the fund’s total $58 million raise and a $10 million guarantee from The Kresge Foundation. Steady in its mission to provide funding and innovative solutions to increase long-term quality affordable housing for all Detroiters, LISC Detroit & DHFF continues to support affordable housing and a valuable resource to tackling housing inequality.

“DHFF and LISC Detroit are expanding affordable housing options for Detroiters, and the West Euclid Gateway project is a prime example of what can be achieved through partnerships,” said Michael T. Pugh, President & CEO of LISC. “By aligning private capital with community organizations, we’re creating quality, affordable housing and driving sustainable growth in historically underserved neighborhoods. This project reflects our commitment to inclusive development, ensuring Detroit remains a city where residents of all income levels can thrive.”

“MSHDA is proud to support the West Euclid Gateway project with a Missing Middle Housing Program grant,” said Chad Benson, Development Director at MSHDA. “This initiative is a prime example of how targeted investments in housing can drive revitalization in Detroit’s neighborhoods, providing affordable, quality homes for residents while contributing to the broader community’s growth. We’re excited to see these vacant buildings transformed into a source of stability and opportunity for families.”

DHFF is managed by LISC Fund Management, LLC, a subsidiary of Local Initiatives Support Corporation. LISC Detroit sources and originates loans for DHFF. DHFF is a part of the larger Affordable Housing Leverage Fund, which is an initiative with the City of Detroit’s Housing & Revitalization Department and MSHDA. Including West Euclid Gateway, the DHFF has now funded 16 projects totaling 438 new or preserved affordable units in the city.

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About Central Detroit Christian

Central Detroit Christian Community Development Corporation (CDC) is a non-profit, faith-based organization committed to empowering people, creating positive opportunities for the community, and loving our neighbors as ourselves. Central Detroit Christian CDC was founded in 1993 when a coalition of pastors agreed that the community would experience a greater impact with a unified effort. At that time the coalition developed the following focus areas: youth programming, job training & development, housing, and meeting direct needs. Our mission is that through education, employment and economic development, Central Detroit Christian CDC strives to transform individuals to reach their highest potential while transforming the community to be a place of Shalom (peace and wholeness).

About 360 Detroit

360 Detroit, Inc., founded in 2014, is an award-winning, community-based 501(c)3 nonprofit committed to working with residents in the Virginia Park community to help build a safe community and elevate the quality of life.  Since its inception, 360 Detroit, Inc. has partnered with residents and supporters to transform the community’s appearance, promote sustainable development, and deliver impactful programs.  Our mission is to revitalize Detroit by catalyzing and advocating for change that empowers people and improves their quality of life.  Our vision and values are centered around fostering inclusive, resilient, and diverse neighborhoods that thrive through active community involvement and partnership.

About the Gilbert Family Foundation

Gilbert Family Foundation is a private nonprofit foundation founded by Jennifer and Dan Gilbert to accelerate a cure for neurofibromatosis type 1 (NF1) and build economic opportunity in the city of Detroit. The Gilbert Family Foundation supports groundbreaking, cutting-edge research in hopes of eradicating NF1, a genetic disorder that causes tumors to grow on nerves anywhere in the body. Additionally, the Foundation supports the economic stability and mobility of residents in Detroit by investing in wealth-building opportunities and breaking down systemic barriers. For more information on the Gilbert Family Foundation, please visit gilbertfamilyfoundation.org.

 

About LISC Detroit

LISC Detroit is a local organization founded in 1990, within the Local Initiatives Support Corporation network that includes 38 offices in urban areas across the country as well as a rural office that serves more than 44 states. National LISC, founded in 1979, is the largest national community development financial intermediary, combining corporate, government, and philanthropic resources to help community-based organizations revitalize their neighborhoods.

LISC’s mission is that every low-income community has the chance to thrive. LISC equips struggling communities with the capital, strategy, and know-how to become places where people can thrive. Working with local leaders we invest in housing, health, education, public safety, and employment — all basic needs that must be tackled at once so that progress in one is not undermined by neglect in another. Sharing our expertise of 41 years, we bring together key local players to take on pressing challenges and incubate new solutions. With them, we help develop smarter public policy. Our toolkit is extensive. It includes loans, grants, equity investments, and on-the-ground experience in some of America’s neediest neighborhoods.

About the Detroit Housing for the Future Fund

Detroit Housing for the Future Fund (DHFF) is a mission-driven private investment fund with the primary goal of addressing the severe shortage of affordable housing in Detroit. DHFF is managed by LISC Fund Management, LLC, a subsidiary of Local Initiatives Support Corporation. LISC Detroit sources and originates loans for DHFF. DHFF is a part of the larger Affordable Housing Leverage Fund, which is an initiative with the City of Detroit’s Housing & Revitalization Department and the Michigan State Housing and Development Authority. DHFF deploys flexible loan capital and private grants to complement and leverage public investment through the City of Detroit and Michigan State Housing Development Authority as well as tax credits and other existing affordable housing finance tools.

For more information on the Detroit Housing for the Future Fund and funding opportunities, please visit https://www.detroithousingforthefuturefund.org/ or https://www.liscstrategicinvestments.org/detroit-housing-for-the-future-fund

For investor inquiries and more information about LISC Fund Management, LLC, please visit https://www.liscstrategicinvestments.org/fund-management

Disclaimer

References made to endorsements by any third-party to invest with LISC Detroit or DHFF are not indicative of future performance and does not imply any guaranteed level of service, skill, or training.  Investors should not rely on endorsements for any purpose and should conduct their own review prior to investing. Darnell Adams and Chad Benson are not a “promoter” or investor in LISC Detroit or DHFF, but are a third-party who is not compensated for this statement.