Real Estate Sales, Leasing, Management & Investments
Midtown Det Incentives
LIVE MIDTOWN INCENTIVES
If you or someone you know works for any of the 3 companies below, you can qualify for huge incentives to live in Midtown Detroit.
Detroit Medical Center, Henry Ford Health Systems and Wayne State University will each invest funding during the pilot year of the program. That investment has been matched by the Hudson-Webber Foundation and MSHDA. The Kresge Foundation also intends to provide additional support for the pilot program. Total funding for the first year will be $1.2 million. The 3 main companies are slated to continue to the program in years to follow adjusting where necessary.
Incentives for individuals to move to the Detroit Midtown area include:
- $2,500 allowance for new renters toward the cost of their apartment in the first year followed by an additional funding of $1,000 for the second year
- $1,000 allowance for existing renters who are renewing a lease in 2011
- $20,000 forgivable loan toward the purchase of a primary residence (if taken at one time), or $25,000 at the rate of $5,000 per year (if taken over five years)
- $5,000 exterior home improvement matching funds; for projects of $10,000 or more for existing homeowners
The incentives are only available to employees of the three anchor
institutions: DMC, HFHS and WSU. To qualify for the incentives, housing
units must be located within the boundaries that includes New Center,
Midtown, Virginia Park and Woodbridge neighborhoods.
The boundaries are:
Housing units in the below boundaries can be selected for this program.
- To the North: Alley directly North of Philadelphia Street
- To the East: Interstate 75
- To the South: Mack Avenue/Martin Luther King, Jr. Boulevard
- To the Southwest: Grand River Avenue
- To the West: Rosa Parks Boulevard
For Complete Guidlines, CLICK HERE for a link to the Live Midtown.Org website. Call or email Dwelllings Unlimited for information on any specific properties from one of our exclusive BUYER's AGENTS, or and to arrange a private tour of properties that fit your budget and HOUSING STYLE.
