Detroit to join new national initiative to increase economic mobility for low-income residents

Detroit to join new national initiative to increase economic mobility for low-income residents

Detroit is one of 10 American cities that will participate in a new national initiative that seeks to increase economic mobility for low-income residents. Over the next 18 months, the City of Detroit will help connect low-income residents in affordable housing units to programs and services that increase their economic opportunities and likelihood of achieving […]

City of Detroit creates $250 million fund to preserve affordable housing, add more

City of Detroit creates $250 million fund to preserve affordable housing, add more

The City of Detroit has established a $250 million multifamily affordable housing fund to preserve 10,000 affordable housing units and build 2,000 more. Called the Affordable Housing Leverage Fund, it will be comprised of $50 million in grant funds, $150 million of low-interest borrowing, and $50 million in public funds from expected federal and city […]