Housing Bubble
Local businessmen seek to revitalize neighborhood close to Detroit assembly plant
DETROIT, /PRNewswire/ -- People are already making offers on homes in the Jefferson Village North Development, Detroit's newest housing project. The Jefferson North Park LLC, a group of prominent African-American businessmen, will break ground on one of the largest single-family housing developments to occur on Detroit's eastside in years. The ceremony will take place at 1 p.m. on Wed., March 26, 2003 on the corner of Vernor and Lillibridge.
"We are committed to the revitalization of neighborhoods in the City of Detroit," said Rayford Jackson, president of RAS Development. "Rebuilding our neighborhoods, providing new affordable homes, creating jobs and increasing the tax base are extremely important to stimulating long-term growth in the city."
The partnership between Jenkins Construction, Parkstone Development LLC and RAS Development, will build 106 single-family homes in Jefferson Village North Development. The Honorable Mayor Kwame Kilpatrick and Walter Watkins, chief development officer for the City of Detroit, along with other prominent Detroit business and civic leaders are expected to attend the ceremony.
Jefferson Village North Development homes will range in size from approximately 1,500 to 2,000 square feet and will be built on 60-foot lots. The homes will start at $125,000 with the option of having an attached or detached garage based on the location and the desire of the buyer. An affordable ownership program will also be established to assist potential homebuyers.
Currently, the Jefferson North community is an area with sparse housing, consisting of mostly single-family, two-story frame-and-brick-veneer structures. With the exception of six churches and the Marcus Garvey Academy, approximately 75 to 80 percent of the remaining land is vacant. One of the goals of this development project is to build on the existing fabric of the neighborhood by constructing in-fill homes.
The development will have a significant positive economic and social impact on the neighborhood by enhancing the property value in surrounding areas and by providing affordable homeownership opportunities to area residents and others.
The architect for the development is Varner & Associates. Harold Varner heads the well-known, Detroit-based African-American firm. The homes will be built on an assembly line by Active Homes Group LLC in Marlette, Mich., and shipped to the site for final assembly. Active Homes Group LLC is the only minority-owned home manufacturing company in the country. The project will be managed by Jenkins Construction and will begin in Spring 2003.
For more information on purchasing a home, please call 1-800-891-2810.
Source: Jefferson Village North Development
