Live Midtown Incentives on WXYZ Channel 7 – Detroit2020

There’s a new program aimed at enticing people to move to Midtown and keep those already living there.

The Detroit Medical Center, Henry Ford Health System and Wayne State University are announcing a “Live Midtown” program for their employees.

The DMC, HFHS and WSU are the three largest employers in Midtown.

Each will invest funding during the first year of the program.  The investment will be matched by the Hudson-Webber Foundation and the Michigan State Housing Development Authority. The Kresge Foundation plans to provide additional support.

Willys Overland Lofts - Qualifying Live Midtown Development

Incentives 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, which includes New Center, Midtown, Virginia Park and Woodbridge neighborhoods.

Live Midtown!

Are you an employee at the Detroit Medical Center, Henry Ford Health System or Wayne State University who is looking to take advantage of the Live Midtown program? If so, City  Living Detroit is here to help you find a new home in Midtown.

Willys Overland Lofts - Qualifying Live Midtown Development

City Living Detroit, based in Midtown, is a client-centered, full-service, boutique real estate sales and marketing firm that specializes in urban living, including lofts, condos, historic homes and apartments.

Visit CityLivingDetroit.com to view our featured listings and search available listings in the area.

• Featured City Living Detroit properties
• Property search on CityLivingDetroit.com

Midtown developments that qualify for the Live Midtown program:

• Centurion Place
• Willys Overland Lofts

Contact City Living Detroit at 313.550.2307 or info@citylivingdetroit.com to speak with one of our agents.

Centurion Place - Qualifying Live Midtown Development

Details about the Live Midtown program:

The University Cultural Center Association will administer the housing incentive program for the three employers.

As rolled out, the incentives include:

• A $2,500 allowance for new renters, to go toward the cost of their apartment in the first year, followed by $1,000 for the second year.

• A $1,000 allowance for existing renters who are renewing a lease in 2011.

• A $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 in exterior home-improvement matching funds to existing home owners for projects costing $10,000 or more.

To qualify for the incentives, housing units must be within the New Center, Midtown, Virginia Park or Woodbridge neighborhoods.

The program is open only to employees of the three anchor companies.

For more information, visit www.livemidtown.org.

 

$1.2 million program launched to grow Midtown population

By Sherri Begin | Crain’s Detroit Business

Centurion Place - Qualifying Live Midtown Development

Midtown Detroit’s three anchor employers, the state and a Detroit-based foundation are funding $1.2 million in incentives to encourage employees of the three anchor employers to live in the area.

The Detroit Medical Center, Henry Ford Health System and Wayne State University announced today the “Live Midtown” incentive program for their nearly 30,000 collective employees. The program is designed to entice those living there to stay and those not living in Midtown to move there.

The Michigan State Housing Development Authority and the Hudson-Webber Foundation are matching the anchor employers’ first-year investment, bringing the total to $1.2 million for this year.

In a release, the organizations said the Troy-based Kresge Foundation also plans to provide some investment for the pilot project, with the anchor employers continuing funding in subsequent years.

 

Willys Overland Lofts - Qualifying Live Midtown Development

The University Cultural Center Association will administer the housing incentive program for the three employers.

As rolled out, the incentives include:

• A $2,500 allowance for new renters, to go toward the cost of their apartment in the first year, followed by $1,000 for the second year.

• A $1,000 allowance for existing renters who are renewing a lease in 2011.

• A $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 in exterior home-improvement matching funds to existing home owners for projects costing $10,000 or more.

To qualify for the incentives, housing units must be within the New Center, Midtown, Virginia Park or Woodbridge neighborhoods.

The program is open only to employees of the three anchor companies.

For more information, visit www.livemidtown.org.