Project

Type

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Mixed-use 

Project

Partners

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LISC Detroit, Capital Impact Partners, Invest Detroit, City of Detroit, MEDC

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The Parker Durand is located at the northeast corner of Kercheval and Van Dyke. The project is a new build on a vacant site and is 4-story, almost 85,000 square feet mixed-use building. It includes 92 residential units with approximately 6,000 square feet of rentable commercial space on the first floor. The project is part of the Strategic Neighborhood Fund (SNF). 
Parker Durand features both one- and two-bedroom apartments. 20% of units are at 80% AMI or less. The project is a new construction affordable housing project in Detroit’s West Village neighborhood. The project can create approximately 73 construction jobs and potential new job opportunities through commercial tenants. 

The commercial space will house an expansion of the existing art gallery, in addition to housing coffee shops and other amenities attractive to residents as identified during community engagements with neighborhood residents.

The total project cost was around $23M and includes several funding partners, including LISC participating with Capital Impact Partners to provide a $14,000,000 construction loan with additional support from Invest Detroit, Cinnaire, MEDC, and City of Detroit HOME Funds.