Unassisted units are expected to rent mainly to households earning between 30-60% of AMI.
Public housing-assisted units are expected to rent to households making far less than the 60 % stated maximum, and indeed less than the 30% maximum mandated by DHC. The units are limited to households earning not more than 60% of Area Median Income (“AMI”), or $42,600 for a family of four in Wayne County. In addition, the development site includes a community and leasing building. Cornerstone Estates is an all low-rise new construction project with approximately 30 buildings, consisting of duplexes and townhomes. The multi-phase (I, II, and III) project will total 180 rental units of which 138 of the units will be tax credit-eligible and public housing (ACC)-assisted, and 42 of the units will be tax credit eligible and non-ACC assisted. Lodge Freeway (west), Temple Street (south) and Fourth Street (east) The Subject Property: Cornerstone Estates formerly the Jeffries East housing project The redeveloped site includes all new infrastructure and is planned to flow generally from north to south. The new site configuration is designed to fit seamlessly into the fabric of the surrounding neighborhoods to the east and north of the site. This is a substantial reduction in density from the approximately 260-plus units formerly on the property. Cornerstone Estates is a 180-unit mixed-income affordable housing rental development.
The site has been redeveloped by SPA with low-rise, new construction affordable units and landscaped open space. The former Jeffries East public housing project that was on the site has been completely demolished. Lodge Freeway, just south of Martin Luther King, Jr. The Cornerstone Estates development site is located on the east side of the John C. These units are being constructed under the HUD sponsored HOPE VI Revitalization Program, administered by the Detroit Housing Commission (“DHC”). We will streamline your care from aligning you with the appropriate therapist based on your individual needs, to accessing your benefits and walking you through the insurance process, and coordinating care within our practice and/or with other healthcare professionals. This team has been assembled to redevelop Cornerstone Estates (formerly Jeffries East) in Detroit as an “off-site” component of Woodbridge Estates (‘WBE”). of New York City and Washington, D.C., and Premier Property Management of Detroit. Strather of Detroit, MI, the Slavik Company of Bingham Farms, MI, the Rosenberg Housing Group, Inc. Scripps Park Associates, LLC (“SPA”), a development team comprised of Herbert J. Past performance is no guarantee of future results.Home > Development > Projects > Details Cornerstone Investments in securities involve the risk of loss. Cornerstone manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary.
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