from “le détroit” · the strait
Two Detroit organizations are working to expand affordable housing as rising home prices and high interest rates squeeze supply, with efforts that include a 49-home senior development.
New reporting from Model D, a feature sponsored by JPMorganChase, profiles how Cass Corridor Neighborhood Development Corporation and Cove Investments are working to expand affordable housing in Detroit. Rising home prices and high interest rates, the piece says, have put ownership out of reach for many residents. One project it highlights is Greystone Senior Living, described as 49 new affordable homes for seniors, with rents tied to what people on fixed incomes can actually afford. "Every additional housing unit matters," a J.P. Morgan banker told Model D. Strait has not independently confirmed this.
Why we're watching: affordable senior housing is one of Detroit's tightest squeezes, and we will cover Greystone directly when it opens.
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