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La Joya
Gardens
is the
latest
project
supported
by the
Strategic
Neighborhood
Fund
(SNF), a
partnership
between
the City
of
Detroit,
Invest
Detroit,
neighborhood
residents
and
corporate
donors.
SNF
funds
community-driven
projects,
each of
which
begins
by
soliciting
input
from
residents.
SNF,
with
assistance
from PNC
Bank,
funded
the
community
engagement
process
for the
project,
and
provided
$1.6
million
in gap
funding,
which
supports
the deep
affordability
of the
units. |
|
La Joya
Gardens,
a
mixed-use
residential
and
commercial
building
breaks
ground
in
Southwest
Detroit
DETROIT
- The
Southwest
Detroit
Business
Association
(SDBA)
and
Cinnaire
Solutions
today
held a
groundbreaking
ceremony
along
with the
City of
Detroit,
Invest
Detroit,
MSHDA
and
other
partner
organizations
of La
Joya
Gardens
— a
mixed-use,
mixed-income
residential
and
commercial
building
that
will be
located
at 4000
W.
Vernor
Hwy. in
Southwest
Detroit.
Detroit
Mayor
Mike
Duggan,
Councilmember
Gabriela
Santiago-Romero
and key
development
partners
joined
the
community
in
celebrating
the
start of
construction.
La Joya
Gardens
is the
latest
project
supported
by the
Strategic
Neighborhood
Fund
(SNF), a
partnership
between
the City
of
Detroit,
Invest
Detroit,
neighborhood
residents
and
corporate
donors.
SNF
funds
community-driven
projects,
each of
which
begins
by
soliciting
input
from
residents.
SNF,
with
assistance
from PNC
Bank,
funded
the
community
engagement
process
for the
project,
and
provided
$1.6
million
in gap
funding,
which
supports
the deep
affordability
of the
units.
“In
neighborhoods
across
Detroit,
the
Strategic
Neighborhood
Fund is
helping
us build
new
affordable
housing
and
bringing
new life
to our
historic
commercial
corridors
like
West
Vernor,”
Mayor
Duggan
said.
“For
years,
this key
corner
has been
an empty
lot, but
thanks
to SDBA,
Cinnaire
Solutions
and the
SNF, it
will
once
again be
thriving
and a
beautiful
place
for
Detroiters
and
small
businesses
to call
home.”
La Joya
Gardens
is a $24
million
development
that
will
offer 47
one-bedroom
and six
two-bedroom
apartments,
with 42
reserved
as
affordable
for
those
earning
30% to
80% of
the area
median
income.
That
translates
to rents
as low
as about
$500 a
month
for a
one-bedroom.
When it
opens
next
summer,
the
development
will
also
offer
some
6,000
square
feet of
retail
space
and
1,500
square
feet of
flexible
community
space on
the
ground
floor
with
indoor
and
outdoor
seating
that
will be
a
welcoming
space
for
social
gatherings
and
special
events.
As part
of this
vibrant
development
in the
Hubbard
Farms
Historic
District,
a lush,
landscaped
plaza
will be
adjacent
to four
street-fronting
retail
spaces,
as well
as a
500-square-foot
café
that
will be
available
for rent
by
Southwest
Detroit-based
businesses
and
entrepreneurs.
"My six
policy
priorities
include
housing
and
equitable
development,
so I am
thrilled
to be
here
today to
celebrate
the
groundbreaking
of La
Joya
Gardens.
Projects
like
these
are what
transform
our
neighborhoods,”
said
Council
Member
Gabriela
Santiago-Romero.
“When we
leverage
funding
to
invest
in real
estate
that
becomes
an
affordable
home to
residents
and
provides
opportunities
for
small
business
owners
to
realize
their
dreams
of a
brick-and-mortar
location,
we all
win."
La Joya,
which
means
“jewel”
in
Spanish,
was a
name
chosen
by
residents
during
the
project’s
extensive
community
engagement
process.
In 2018,
the
development
team
kicked
of the
project
with a
six-month
"participatory
design"
phase in
which
more
than 200
local
stakeholders
met with
the
architects
in a
series
of
meetings
and
focus
groups.
Residents
and
local
businesses
voiced
their
suggestions
and
voted on
the
building's
design
elements,
types of
businesses,
and
community
services
they
wanted
to see,
and
participated
in a
contest
to name
the new
community.
“Today’s
groundbreaking
marks a
pivotal
moment
for La
Joya
Gardens,
an
exciting
development
project
that
will not
only add
high-quality,
affordable
housing
and
community
space
for
local
residents
to
enjoy,
but also
prime
retail
space
along
one of
the
city’s
most
vibrant
commercial
corridors,”
said
Laura
Chavez-Wazeerud-Din,
SDBA’s
Vice
President
of
Programs
&
Compliance.
“We are
immensely
grateful
to all
of the
development
partners
who
helped
bring
our
community’s
vision
to
fruition.”
Designed
by SITIO
Architecture
+
Urbanism,
the
mixed-use
development
brings
urban
vitality
to an
entire
city
block
along
West
Vernor
Highway
that has
stood
vacant
for more
than a
decade.
“We
believe
there is
no
higher
purpose
than
serving
others,”
said
Chris
Laurent,
president
of
Cinnaire
Solutions.
“Through
our
service,
we hope
to
further
enhance
the
lives of
residents
in the
community.”
Since
2018,
SNF has
invested
$118.5
million
in 72
unique
projects
in all
10 SNF
neighborhoods.
This
includes
parks,
streetscape
overhauls,
single-family
housing
stabilization
and
commercial
corridor
revitalization.
The fund
also
works
hand-in-hand
with
other
City
initiatives
such as
Motor
City
Match to
amplify
its
impact
on
communities
across
the city
of
Detroit.
“SNF is
creating
real
momentum
in
Detroit’s
neighborhoods”
said
Keona
Cowan,
Executive
Vice
President,
Lending
for
Invest
Detroit.
“Residents
are
excited
about
this
project.
It will
spur
more
investment
in the
area,
and
Invest
Detroit
and SNF
are
excited
about
opportunities
to fund
more
projects
along
West
Vernor,
the main
street
of
Southwest
Detroit.”
The City
of
Detroit’s
Housing
&
Revitalization
Department
(HRD)
invested
$2.36
million
in La
Joya
Gardens
through
HOME and
the
Affordable
Housing
Development
Fund.
“Projects
like La
Joya
Gardens
are so
important
because
they not
only
create
new
affordable
housing,
but
revitalize
our
commercial
corridors
and make
our
neighborhoods
better
places
to call
home,”
said
Julie
Schneider,
director
of HRD.
“The
deep
affordability
La Joya
will
bring is
also
essential
in our
efforts
to build
back
neighborhoods
everyone
can
afford
to call
home.”
Additional
funding
for La
Joya
Gardens
also
includes
a $12.4
million
4% and
9% Low
Income
Housing
Tax
Credit
(LIHTC)
investment
from
Cinnaire;
a $3.2
million
loan and
a
$588,647
HOME/House
Trust
award
from the
Michigan
State
Housing
Development
Authority
(MSHDA);
a
$500,000
Affordable
Housing
Program
(AHP)
Award
from the
Federal
Home
Loan
Bank of
Indianapolis;
$1.6
million
investment
from
Invest
Detroit
through
the
Strategic
Neighborhood
Fund;
and a
$500,000
investment
from the
Detroit
Economic
Growth
Corporation.
La Joya
Gardens
is one
of the
first
4%/9%
combo
LIHTC
projects
to
address
pricing
and
supply
chain
challenges.
“This
development
ticks a
lot of
boxes
for
MSHDA.
It’s
going to
bring a
mixed-use,
mixed-income
residential
and
commercial
development
to a
historic
neighborhood,
where
I’m
confident
it will
become a
catalyst
for
revitalization,”
said
MSHDA
Executive
Director
Amy
Hovey.
“With a
majority
of
apartments
set
aside
for
residents
with low
incomes,
this
project
will
help
fulfill
our
mission
of
ensuring
every
Detroiter
who
needs it
has
affordable
housing
as a
foundation
to reach
their
full
potential.”
Other
partners
helping
SDBA and
Cinnaire
Solutions
in
making
La Joya
Gardens
a
reality
include
511
Design,
the
Detroit
Economic
Growth
Corporation,
Detroit
Housing
Commission,
O’Brien
Construction,
and
Flagstar
Bank.
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