Affordable housing, dumplings: Groundbreaking held for mixed-use development in East English Village
“This is one of the most significant changes to the landscape here in decades,” says Joe Rashid, executive director of the East Warren Development Corporation.
What’s happening: A ceremonial groundbreaking was held for a new mixed-use development along the E. Warren Ave. corridor in East English Village late last week. The $8.2 million development will feature 18 residential units and commercial space that has already signed Gajiza Dumplings as its tenant, the (until now) pop-up restaurant and a finalist in the 2022 Hatch Detroit small business pitch competition.
What it is: The Ribbon will feature 18 new apartments, each of which are guaranteed to be offered at affordable and below-market rates for the next 25 years. Fourteen of the apartments will rent at or below 80 percent of the area median income (AMI), and four of the units will rent at or below 60 percent AMI. Gajiza Dumplings will occupy the ground floor retail space. It’s expected that The Ribbon will open in the fall of 2024.
Who’s behind it: It’s the first development for Edward Carrington and his Flux City Development, an “emerging developer of color based in Detroit,” per the city’s release. Carrington has partnered with LISC Detroit and Invest Detroit on the development.
How they’re doing it: A patchwork of funders have come together to help make the $8.2 million development a reality. This includes $600,000 in loans from the Detroit Housing for the Future Fund (DHFF); a $1.4 million grant from the Strategic Neighborhood Fund; $338,199 in DHFF Preferred Equity; $2.2 million from Capital Impact Partners; CIP EDI grant of $75,000; and a $1.3 million investment from Michigan Economic Development Corporation. The Ribbon also qualified for a DHFF Developers of Color Matching Grant, made possible by JP Morgan Chase, which is “designed to grow the pipeline of minority-led affordable housing and preservation projects in Detroit,” per the city.
Why it’s important: “This is one of the most significant changes to the landscape here in decades,” Joe Rashid, executive director of the East Warren Development Corporation, says in a statement. “We already are seeing renewed interest in commercial leasing due to the streetscape improvements. The Ribbon will add a lot of new neighbors and more excitement to the area, and those of us in East English Village and Morningside can’t wait to welcome them.”
The Ribbon is located at 16530 E. Warren Ave. in Detroit.
Got a development news story to share? Email MJ Galbraith here or send him a tweet @mikegalbraith.
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