City of Detroit Helps to Maintain Affordable Housing in Soon-to-be Renovated Lafayette Park Apartment Building

Detroit’s City Club Apartments and the city’s Housing and Revitalization Department are making it possible for 20 percent of the 202-units of the Elmwood Park Plaza to be preserved as affordable housing for those already living there when a $25 million top-to-bottom renovation is complete later in the year.
747
Elmwood Park Plaza
City Club Apartments plans to renovate Elmwood Park Plaza and keep 20 percent of its units affordable. // Rendering courtesy of City Club Apartments

Detroit’s City Club Apartments and the city’s Housing and Revitalization Department are making it possible for 20 percent of the 202-units of the Elmwood Park Plaza to be preserved as affordable housing for those already living there when a $25 million top-to-bottom renovation is complete later in the year.

Work is scheduled to begin this month on the transformation of Elmwood Park Plaza to the City Club Apartments-Lafayette Park. Current residents should be able to move into renovated apartments sometime in March, according to the developers.

Each of the building’s current residents who qualify for affordable units was offered the opportunity to remain in the building, paying rents below standard affordable rents. To ensure that existing tenants weren’t priced out following the renovations, the city’s Housing and Revitalization Department offered the property’s owners a 12-year, $1.46 million tax abatement, known as an Obsolete Property Rehabilitation Act exemption. When residents in these affordable units decide to move out, it will create an opportunity for someone else who qualifies.

“Preventing displacement is one of the central missions of our department,” says Donald Rencher, director of the city’s Housing and Revitalization Department. “Creating new homes in new buildings is great, but this announcement means that these Detroiters not only get to stay in the city, they get to stay in the same building.”

Among the new amenities that the existing residents will enjoy following the renovations are a heated swimming pool, fitness center, redone lobby, new landscaping, and a first-floor club room with kitchen, lounge seating, big-screen TV,s and a fireplace where residents can host private dinners, entertain, or connect with their neighbors. There also will be a 24/7 concierge, and gated and secure parking. The property also will feature green building and social responsibility management techniques.

“We have been actively building, redeveloping, and managing great residential in the city for more than 100 years and continue to be inspired with its leadership, vision, and energy,” says Jonathan Holtzman, chairman and CEO of City Club Apartments. “We are redeveloping this community in response to the demand for affordable luxury in the city. It simply does not exist in the market today and we are thrilled to be delivering it with this top-to-bottom redevelopment.”

Facebook Comments