DETROIT (WXYZ) — Mayor Mike Duggan and city leaders celebrated the grand opening of a new 36-unit, mixed-income housing development in the Willis Selden neighborhood in Midtown on Monday.
Located at 655 W. Willis, the $10 million development features nine studio apartments, 18 one-bedroom units, nine two-bedroom units, and a view of the city from a rooftop deck. Households with incomes up to 80% of the areas median income qualify for all nine of the developments studio apartment units with rental rates between $1150-$1232 per month.
"I want to congratulate Richard Hosey and his team on this bringing this great project to the City of Detroit,” said Mayor Mike Duggan. “Building a brand new, first-class apartment building right here in Midtown will bring more housing options to residents in a neighborhood where new restaurants and shops are opening all the time.”
A previously vacant, city-owned lot on Willis Street between Second and Third Avenues was used for the development.
“By turning this vacant lot into new housing, we are meeting the needs of a growing neighborhood while also boosting revenue for Detroit,” said Kenyetta Hairston-Bridges, chief operating officer and executive vice president for the Detroit Economic Growth Corporation. “The DEGC is proud to have supported Richard in making this project a reality."
The new development received a Neighborhood Enterprise Zone (NEZ) tax abatement, which will create incremental tax revenue for the city and while ensuring rental rates remain affordable for residents.
“Our development team is incredibly grateful to the city, state and our lending partner Capital Impact for working with us to complete this project despite all of the pandemic-related hurdles,” said Richard Hosey, Owner of Hosey Development. “We're very happy to have the opportunity to showcase what can be achieved on the many smaller parcels around the city.”
