Bagley Housing to develop single-family homes
Detroit, November 1, 2006: Bagley Housing Association, located in the heart of Detroit’s barrio, has kicked off two new housing projects, including twenty-three single family homes (which will be considered affordable homes) and nine market rate homes, all to be built in Southwest Detroit.
Bagley Housing, in collaboration with West Construction Services and Steven C. Flum Architects, Inc., will build eight of the affordable units starting this month with the next fifteen, depending on sales activity, beginning in March 2007.
The homes will be approximately 1,400-1,500 square feet, three bedroom, two full baths, full basement, one and two car detached garages and include many of the necessary appliances. Affordable units are sold to households with incomes 80% or less than the area median income. The market rate single family houses will be approximately 1,900 square feet, three and four bedroom, 2.5 baths, full basement and two car garages. The homes are located in a Neighborhood Enterprise Zone which provides valuable property tax savings to the homeowner.
All of the houses will be considered High Performance homes. They’ll exceed the Energy Star 5 Star standards including high efficiency furnaces, water heaters and windows and additional insulation. The homes will also be wired for high speed internet access.
“The two-story and bungalow homes we’re building are charming, fully loaded and ready to go for new homeowners. We’re excited to be developing these homes in an area that has experienced resurgence in residents, businesses and property values”, said Dr. Murray, Executive Director, Bagley Housing.
Financing has been provided from various sources including loans from LaSalle Bank, Charter One Bank, HOME funds from the City of Detroit, MSHDA, and Great Lakes Capital Fund.
Bagley Housing Association is a non-profit community development corporation providing both rehab and new housing in and around Mexicantown in the City of Detroit. West Construction Services, based in Historic downtown Pontiac, MI, builds and develops both market rate and affordable housing in and around the City of Detroit. Steven C. Flum Architects provides architectural and urban planning services and is based in the City of Detroit.