- Associated Press - Thursday, December 15, 2016

DETROIT (AP) - Three buildings on Detroit’s east side will be renovated to include three rental housing units, three commercial spaces and a community courtyard as part of efforts to improve city neighborhoods.

The Garland Building project in Detroit’s West Village neighborhood is expected to create jobs, while expanding retail and residential opportunities in the neighborhood. It carries a $1.35 million price tag.

JPMorgan Chase and Capital Impact Partners loaned $1 million to the project as part of their collaborative $30 million Detroit Neighborhoods Fund. The fund is financed by JPMorgan Chase’s $100 million commitment to Detroit’s economic recovery.

Capital Impact Partners senior loan officer Melinda Clemons said the project is a “catalyst for a new wave of recent revitalization” in the area.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide