The state has approved $1 million in performance-based grants and another $800K in property tax capture funds and the city of Detroit has added $2.5 million in federal housing funds to help the Central Detroit Christian Community Development Corp renovate a midtown apartment building this fall.The 44-unit Casamira Apartments located in New Center are more than 60 years old, and have been vacant since 2012 when a fire destroyed part of the fourth story. The development group plans to invest upwards of $10 million in the property, including $1 million in historic tax credits and a further $3.7 million in loans for the project, according to the Detroit News. The building has a checkered past. Its recent history includes residents going without electricity in the winter in 2010 after the landlord refused to repair a broken transformer.
·State gives $1M grant to renovate Detroit apartments [Detroit News]
·Tenants of Detroit apartment building living without utilities [WSWS News]
·The Casamira Apartments [Loopnet]