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In a move that shows some heart, new owners of two historic buildings at Washington and Grand River in downtown Detroit have vowed to keep their low-income seniors as tenants.
Louis Aguilar of The Detroit News reports:
The Washington buildings — which comprise the Industrial-Stevens apartments — represent two of the four remaining downtown apartments that serve low-income seniors who rely on federal assistance, known as Section 8, to pay monthly rent. Two years ago, another downtown building with Section 8 residents was bought, renovated and renamed The Albert. The residents were given financial assistance and one year to move. The Albert now charges some of the highest residential rents in the city.
The residents of the 165 units at the Industrial-Stevens buildings will not face that fate, the new owners said.
“We believe in the mission (of Section 8). It adds to the diversity of the neighborhood,” said Stacy Fox, a principal of The Roxbury Group, the Detroit developers that partnered with Invest Detroit Foundation to buy the buildings at the corner of Washington and Grand River. The sales price wasn’t disclosed. The Industrial building at 1410 Washington and the Stevens at 1258 Washington are notable structures.
