After months of construction, Rainer Court opened yesterday. Detroit Mayor Mike Duggan and JPMorgan Chase President and CEO Jamie Dimon cut the ribbon on the West Alexandrine Street apartment building that will now offer 36 units for rent. Apartments in the 1922 building restored and remodeled as part of Chase's $100 million pledge of support of Detroit's recovery, rent in the $1000-a-month range and up.
Yesterday's press event ended with a tour of the newly rehabbed apartment building. Sources close to the project tell Curbed that Rainer Court represents a kind of renewal aimed at creating more housing and bringing in middle class renters, but without displacing people. The projects will focus on vacant buildings in need of serious renovation, rather than on occupied structures, a Chase official told us.
The Rainer Court apartments have all sorts of nice amenities—dishwashers, wood floors, brand-new bathrooms, subway tile and kitchen islands, black granite and in-unit laundry. Some of the units have truly lovely views of a tree-lined street. Other buildings undergoing similar remodels that should announce vacancies soon include the Strathmore, where Hygienic League artwork is giving way to new windows and remodeled apartments, and the Finn Apartments, also in Midtown.
"Detroit is coming back, and our investments are making a real impact on creating economic growth across the city and providing greater opportunity for more people," Chase CEO Dimon said in a statement. "Rainer Court is a great example of how the right kind of capital, partnerships and deep community expertise can produce quality housing for Detroit's hardworking residents. From Midtown to the neighborhoods, we're excited to see our investments continue to catalyze Detroit's recovery."
·Newly Rehabbed Midtown Apartments Entering Last Stage of Construction [Curbed Detroit]
·Floor Plans [Rainer Court]
·Investing in Detroit [JP Morgan Chase]