Are the rents too damn high in Midtown? Is gentrification moving residents out of the area? A new program called Stay Midtown was recently announced, and it’s meant to help low-income residents stay in their rentals and their neighborhood.
It’s basically a rental assistance program to help lower income residents whose rent is increasing in Midtown. Here are a few key guidelines to the program.
- It’s meant for residents whose income is 50-80% of the area median income. That range for one person is between $23,450 and $37,520, and for a family of eight, between $44,200 and $70,720. A full chart can be found here.
- The housing cost burden has to exceed 30% of the household income. Housing costs include rent, utility bills, and any housing or rental insurance.
- The program area covers the neighborhoods between the Lodge on the west, I-75 on the east and south, and I-94 to the north (so basically Midtown/Cass Corridor, Art Center, and Brush Park).
Applicants can fill out an online form or a paper version that can be sent in. Full guidelines can be found here.
The site also offers an extensive list of additional resources for residents who might not qualify for this particular program.
The program is a partnership between Midtown Detroit Inc., the Ford Foundation, the Kresge Foundation, and Capital Impact Partners. According to the Detroit Free Press, about $400,000 is available through the program, and full-time students and residents who receive incentives through other programs are not eligible.
- Stay Midtown
- Midtown Detroit launches program to fight high rents [Detroit Free Press]