A new mixed-use, mixed-income development is being built on a vacant lot between Van Dyke and Coe Avenues in Detroit’s West Village neighborhood with support from the Michigan Strategic Fund (MSF). The project, “The Coe” aims to bring additional development to the area while attracting residents to a new neighborhood.
MSF granted approval of a $730,933 Michigan Community Revitalization Program performance-based grant to contribute towards the total capital investment of $3.9 million for the project. Additionally, the development is receiving $1.3 million from Invest Detroit’s Strategic Neighborhood Fund Initiative and $1.9 million from Capital Impact Partners’ Detroit Neighborhoods Fund.
The Coe will be constructed by Coe Van Dyke and will include market-rate and affordable rental housing with commercial space on the first floor. The project is expected to add density to the neighborhood, bring additional investment to the area, and demonstrate to other developers that projects outside of downtown and Midtown can be profitable.
“The Coe will fill in a long-vacant lot in the West Village neighborhood of Detroit and serves as a promising sign of the continuing redevelopment of Detroit, especially beyond the core downtown areas,” says Steve Arwood, CEO of Michigan Economic Development Corp. “We look forward to the momentum of this project and the additional investment it will encourage in other Detroit neighborhoods.”
The City of Detroit is also supporting the project with a Commercial Rehabilitation Tax Abatement valued at approximately $236,700 over a 10-year period. Sachse Construction is the construction manager, Christian Hurttienne Architects is the architect of record, and Broder and Sachse Real Estate is the property manager.