June 16, 2016
June 16, 2016- NDC Corporate Equity Fund X announced a LIHTC closing of a $7.6 million new construction project that will create twenty eight- two and three bedroom townhome units. The project, Mack Ashland II was completed in partnership with Southwest Housing Solutions, and will address a need for affordable rental housing in Detroit, MI.
Mack-Ashland II is a scattered site development within the eastern portion of the City of Detroit. When complete, the project will have 14 residential townhome buildings, with an additional building that will contain the manager unit and the community room. Eight units are set aside for permanent supportive housing, five units are set aside for families earning 40% of AMI and fifteen units are set aside for families earning 60% of AMI. Prior to the start of construction, the individual parcels within the subject neighborhood consisted of vacant lots, as well as vacant and abandoned single family homes.
The Mack Ashland II property will undergo a beautification process, creating two community gardens featuring benches, raised garden beds and a playground for children. The development location provides positive curb appeal for residents, it is located in close proximity to public transportation, retail centers, coffee shops, restaurants, banks, churches and libraries.
Mack Ashland II expects to begin lease-up in early 2017.